Rocket Lab USA (NASDAQ:RKLB) Shares Up 4.1% – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 4.1% during trading on Monday . The company traded as high as $19.95 and last traded at $19.58. Approximately 7,317,612 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 14,431,686 shares. The stock had previously closed at $18.81.

Analyst Ratings Changes

RKLB has been the subject of a number of research analyst reports. KeyCorp cut their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Morgan Stanley raised their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Wells Fargo & Company lowered their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Finally, Citigroup lowered their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. 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.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Stock Up 3.0 %

The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of -52.61 and a beta of 2.06. 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 firm’s fifty day simple moving average is $25.10 and its two-hundred day simple moving average is $18.84.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) 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 business had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Rocket Lab USA by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after purchasing an additional 668,093 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Rocket Lab USA by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock worth $211,084,000 after buying an additional 32,658 shares during the last quarter. FMR LLC raised its position in shares of Rocket Lab USA by 30,853.3% during the 4th 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. Northern Trust Corp raised its holdings in Rocket Lab USA by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock worth $82,207,000 after purchasing an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Lab USA by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock worth $73,919,000 after buying an additional 23,855 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other 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.