Rocket Lab USA (NASDAQ:RKLB) Trading Up 2% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 2% during trading on Monday . The company traded as high as $11.46 and last traded at $11.40. Approximately 2,857,872 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 9,868,588 shares. The stock had previously closed at $11.18.

Analysts Set New Price Targets

A number of research analysts have commented on RKLB shares. Morgan Stanley lowered shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $8.00 to $6.00 in a research note on Monday, July 15th. KeyCorp boosted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.89.

Rocket Lab USA Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The firm’s 50-day simple moving average is $8.24 and its two-hundred day simple moving average is $5.87. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of -32.34 and a beta of 1.32.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The company’s quarterly revenue was up 71.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) earnings per share. Sell-side analysts predict that Rocket Lab USA, Inc. will post -0.39 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now directly owns 42,353 shares in the company, valued at $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now directly owns 42,353 shares in the company, valued at approximately $292,235.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock worth $906,059 over the last ninety days. 13.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently bought and sold shares of RKLB. Wellington Shields & Co. LLC increased its position in shares of Rocket Lab USA by 3.8% in the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after acquiring an additional 2,503 shares in the last quarter. Amalgamated Bank grew its holdings in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in Rocket Lab USA by 7.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after purchasing an additional 2,807 shares in the last quarter. Lakeridge Wealth Management LLC grew its holdings in Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Verus Capital Partners LLC grew its holdings in Rocket Lab USA by 11.9% during the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after purchasing an additional 3,525 shares in the last quarter. Hedge funds and other institutional investors 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.