Rocket Lab USA (NASDAQ:RKLB) Shares Gap Up – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares gapped up prior to trading on Tuesday . The stock had previously closed at $19.13, but opened at $19.95. Rocket Lab USA shares last traded at $21.31, with a volume of 7,740,702 shares.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RKLB. Citigroup decreased their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. KeyCorp reduced their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus boosted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.72.

Rocket Lab USA Trading Up 8.9 %

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a market cap of $9.45 billion, a P/E ratio of -56.59 and a beta of 2.08. The firm’s fifty day moving average is $20.99 and its two-hundred day moving average is $20.64.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the transaction, the insider now owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its stake in Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Rocket Lab USA in the 4th quarter worth approximately $72,623,000. BNP Paribas Financial Markets purchased a new stake in shares of Rocket Lab USA in the 4th quarter worth approximately $56,977,000. Two Sigma Investments LP bought a new position in Rocket Lab USA during the 4th quarter valued at approximately $47,074,000. Finally, Renaissance Technologies LLC raised its stake in Rocket Lab USA by 1,765.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock valued at $46,325,000 after buying an additional 1,721,300 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.