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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) traded down 4.6% during mid-day trading on Tuesday . The stock traded as low as $18.08 and last traded at $18.23. 3,251,625 shares traded hands 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RKLB shares. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Wells Fargo & Company cut 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. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Citigroup reduced their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Five investment 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 stock. Based on data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Stock Down 4.3 %

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 business has a 50-day moving average price of $24.91 and a 200 day moving average price of $18.93. The stock has a market capitalization of $8.29 billion, a P/E ratio of -49.38 and a beta of 2.06.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after buying an additional 3,684,195 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $72,623,000. BNP Paribas Financial Markets bought a new position in Rocket Lab USA in the fourth quarter worth approximately $56,977,000. Two Sigma Investments LP bought a new stake in Rocket Lab USA during the 4th quarter valued at $47,074,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Rocket Lab USA by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock worth $46,325,000 after buying an additional 1,721,300 shares during the period. Institutional investors own 71.78% of the company’s stock.

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.