Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down After Earnings Miss

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $19.83, but opened at $16.36. Rocket Lab USA shares last traded at $18.82, with a volume of 9,890,900 shares traded.

The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America upped their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. KeyCorp lifted their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald upped their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company increased their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.28.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, the director now owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in 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 valued at $94,141,000 after buying an additional 3,684,195 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Rocket Lab USA during the 4th quarter valued at $72,623,000. BNP Paribas Financial Markets bought a new stake in shares of Rocket Lab USA during the 4th quarter valued at $56,977,000. Two Sigma Investments LP acquired a new position in shares of Rocket Lab USA in the 4th quarter valued at $47,074,000. Finally, Renaissance Technologies LLC boosted its position in shares of Rocket Lab USA by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock worth $46,325,000 after purchasing an additional 1,721,300 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Trading Down 1.7 %

The business has a 50 day moving average of $26.79 and a 200 day moving average of $17.71. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of -51.20 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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.