Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 7.3% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 7.3% during trading on Tuesday . The company traded as high as $22.10 and last traded at $20.52. Approximately 16,469,908 shares were traded during trading, an increase of 9% from the average daily volume of 15,177,559 shares. The stock had previously closed at $19.13.

Analyst Ratings Changes

A number of brokerages recently commented on RKLB. 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 research note on Thursday, January 16th. Wells Fargo & Company decreased their price objective on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. KeyCorp cut their target price 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. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus price target of $22.72.

Rocket Lab USA Trading Down 5.2 %

The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The stock has a market cap of $9.06 billion, a PE ratio of -54.00 and a beta of 2.08. The business has a 50 day moving average of $20.71 and a 200-day moving average of $20.64.

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

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 1,417,644 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of large investors have recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA during the 4th quarter worth about $25,000. Sandy Spring Bank bought a new stake in shares of Rocket Lab USA in the fourth quarter worth $26,000. Versant Capital Management Inc increased its position in shares of Rocket Lab USA by 118.1% in the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Rocket Lab USA in the 1st quarter valued at about $29,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Rocket Lab USA by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock worth $35,000 after buying an additional 1,226 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

About Rocket Lab USA

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.