Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) gapped down prior to trading on Monday . The stock had previously closed at $16.37, but opened at $14.72. Rocket Lab USA shares last traded at $14.94, with a volume of 4,267,781 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on RKLB. Wells Fargo & Company lowered their price target on shares of 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. Morgan Stanley boosted their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. KeyCorp cut their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group boosted 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. Finally, Stifel Nicolaus raised their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Trading Up 7.0 %

The business’s 50-day simple moving average is $22.57 and its two-hundred day simple moving average is $20.12. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of -47.35 and a beta of 2.08. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

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 the consensus estimate 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 company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Equities analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently bought and sold shares of RKLB. Chicago Partners Investment Group LLC increased its holdings in shares of Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after acquiring an additional 334 shares during the last quarter. Wellington Shields & Co. LLC boosted its holdings in Rocket Lab USA by 0.5% in the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock valued at $1,898,000 after purchasing an additional 383 shares in the last quarter. Signaturefd LLC increased its stake in Rocket Lab USA by 12.2% in the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after purchasing an additional 653 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Rocket Lab USA by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock worth $554,000 after purchasing an additional 696 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Rocket Lab USA by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after buying an additional 746 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.