Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 0.5% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price traded down 0.5% during trading on Wednesday . The company traded as low as $17.66 and last traded at $17.75. 8,172,080 shares were traded during mid-day 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 Analysts Forecast Growth

A number of research analysts have recently issued reports on RKLB shares. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald lifted their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Morgan Stanley boosted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Citigroup dropped their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Five 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. Based on data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Stock Up 3.3 %

The company’s 50-day simple moving average is $25.59 and its two-hundred day simple moving average is $18.58. The firm has a market capitalization of $8.35 billion, a P/E ratio of -49.73 and a beta of 2.06. 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 (NASDAQ:RKLB) last announced its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS 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 company had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. As a group, research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Lab USA

Several large investors have recently added to or reduced their stakes in RKLB. Vanguard Group Inc. lifted its position in shares of Rocket Lab USA by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after acquiring an additional 668,093 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rocket Lab USA by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock worth $211,084,000 after buying an additional 32,658 shares in the last quarter. FMR LLC grew its stake in Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. Northern Trust Corp grew its stake in Rocket Lab USA by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after acquiring an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after acquiring an additional 23,855 shares during 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.