Rocket Lab USA (NASDAQ:RKLB) Trading Down 0.5% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price traded down 0.5% on Wednesday . The company traded as low as $17.66 and last traded at $17.75. 8,172,080 shares changed hands during trading, a decline of 59% from the average session volume of 20,105,379 shares. The stock had previously closed at $17.83.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup reduced their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Wells Fargo & Company dropped their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus upped their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Stock 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 company’s 50 day moving average is $25.59 and its 200-day moving average is $18.58. The company has a market capitalization of $8.35 billion, a P/E ratio of -49.73 and a beta of 2.06.

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

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Rocket Lab USA in the 4th quarter worth about $4,134,000. University of Texas Texas AM Investment Management Co. purchased a new position in Rocket Lab USA in the fourth quarter worth about $84,000. Sunbelt Securities Inc. lifted its stake in shares of Rocket Lab USA by 911.9% in the fourth quarter. Sunbelt Securities Inc. now owns 5,717 shares of the rocket manufacturer’s stock worth $150,000 after buying an additional 5,152 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Rocket Lab USA by 30.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,790 shares of the rocket manufacturer’s stock worth $17,391,000 after buying an additional 159,642 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $22,331,000. 71.78% of the stock is 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.