Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 0.6% – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB) traded up 0.6% on Friday . The stock traded as high as $18.59 and last traded at $18.65. 2,609,992 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 14,414,588 shares. The stock had previously closed at $18.53.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their price objective 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. Morgan Stanley lifted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. KeyCorp lowered their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Stifel Nicolaus lifted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Stock Up 2.2 %

The company has a 50 day moving average price of $24.20 and a two-hundred day moving average price of $19.18. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock has a market cap of $8.59 billion, a PE ratio of -51.19 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the sale, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Hedge funds have recently bought and sold shares of the company. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the fourth quarter worth about $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Rocket Lab USA in the fourth quarter worth about $40,000. Quarry LP purchased a new stake in Rocket Lab USA in the fourth quarter worth about $48,000. Finally, NewEdge Advisors LLC increased its position in Rocket Lab USA by 1,000.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after buying an additional 1,750 shares in the last quarter. Hedge funds and other 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.