Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.6% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price fell 1.6% during mid-day trading on Tuesday . The stock traded as low as $19.88 and last traded at $19.89. 4,016,847 shares traded hands during trading, a decline of 72% from the average session volume of 14,509,486 shares. The stock had previously closed at $20.21.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley upped their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Citigroup reduced their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company lowered their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. KeyCorp cut their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Price Performance

The firm has a market capitalization of $9.12 billion, a P/E ratio of -54.26 and a beta of 2.06. The stock’s fifty day simple moving average is $24.13 and its 200 day simple moving average is $19.37. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now directly owns 1,419,479 shares of the company’s stock, valued at $25,806,128.22. The trade was a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. raised its stake in shares of Rocket Lab USA by 46.8% in the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after purchasing an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after acquiring an additional 532,207 shares during the period. Geode Capital Management LLC lifted its stake in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares during the period. FORA Capital LLC purchased a new stake in shares of Rocket Lab USA in the 3rd quarter valued at $449,000. Finally, National Bank of Canada FI increased its stake in shares of Rocket Lab USA by 149.2% in the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after acquiring an additional 30,178 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.