Rocket Lab USA (NASDAQ:RKLB) Trading Down 4.6% – Time to Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 4.6% during mid-day trading on Tuesday . The company traded as low as $18.08 and last traded at $18.23. 3,251,625 shares were traded during mid-day trading, a decline of 77% from the average session volume of 14,419,403 shares. The stock had previously closed at $19.10.

Analysts Set New Price Targets

Several research firms recently commented on RKLB. Citigroup reduced their target price on 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. KeyCorp dropped 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. Wells Fargo & Company reduced their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Morgan Stanley increased their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Down 4.3 %

The firm has a market cap of $8.29 billion, a PE ratio of -49.38 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company’s 50-day simple moving average is $24.91 and its two-hundred day simple moving average is $18.93.

Rocket Lab USA (NASDAQ:RKLB) last posted 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 return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. On average, analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RKLB. Citigroup Inc. boosted its holdings in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after buying an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the last quarter. FORA Capital LLC bought a new position in shares of Rocket Lab USA during the third quarter valued at $449,000. Finally, National Bank of Canada FI boosted its position in shares of Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after buying an additional 30,178 shares during the last quarter. 71.78% of the stock is currently owned by 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.