Rocket Lab USA (NASDAQ:RKLB) Shares Down 0% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was down 0% on Wednesday . The company traded as low as $19.66 and last traded at $20.27. Approximately 4,376,898 shares traded hands during trading, a decline of 70% from the average daily volume of 14,496,734 shares. The stock had previously closed at $20.27.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of recent analyst reports. Citigroup decreased their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Morgan Stanley boosted their price target 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. 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 report on Friday, February 28th. Finally, Wells Fargo & Company reduced their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Stock Performance

The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of -54.40 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 has a 50-day simple moving average of $24.05 and a two-hundred day simple moving average of $19.48.

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

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Rocket Lab USA by 30,853.3% in 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 during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at $72,623,000. BNP Paribas Financial Markets bought a new stake in Rocket Lab USA during the fourth quarter worth about $56,977,000. Two Sigma Investments LP acquired a new stake in Rocket Lab USA during the 4th quarter valued at $47,074,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Rocket Lab USA by 1,765.4% in 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. Institutional investors own 71.78% of the company’s stock.

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.