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

Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 1.6% during trading on Tuesday . The stock traded as high as $18.00 and last traded at $18.18. 4,047,943 shares traded hands during trading, a decline of 78% from the average session volume of 18,633,773 shares. The stock had previously closed at $17.88.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective 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. Citigroup cut their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. KeyCorp dropped their price objective 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. Morgan Stanley lifted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Stifel Nicolaus increased their target price 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Price Performance

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 business’s fifty day moving average is $23.12 and its 200 day moving average is $19.89. The company has a market cap of $8.77 billion, a P/E ratio of -52.27 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. As a group, sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RKLB. FMR LLC grew its position in Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after buying an additional 3,684,195 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Rocket Lab USA in the fourth quarter worth approximately $72,623,000. BNP Paribas Financial Markets purchased a new stake in Rocket Lab USA in the fourth quarter valued at approximately $56,977,000. Two Sigma Investments LP purchased a new stake in Rocket Lab USA in the fourth quarter valued at approximately $47,074,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Rocket Lab USA by 1,765.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock worth $46,325,000 after acquiring an additional 1,721,300 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.