Rocket Lab USA (NASDAQ:RKLB) Trading 4.1% Higher – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded up 4.1% during mid-day trading on Monday . The stock traded as high as $19.95 and last traded at $19.58. 7,317,612 shares were traded during trading, a decline of 49% from the average session volume of 14,431,686 shares. The stock had previously closed at $18.81.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley upped their price target on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Stifel Nicolaus upped their price target 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. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Finally, The Goldman Sachs Group upped their price target 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. 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, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Stock Performance

The stock has a market capitalization of $8.15 billion, a P/E ratio of -48.59 and a beta of 2.06. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The business has a fifty day moving average price of $24.71 and a 200-day moving average price of $19.01.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results 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 business had revenue of $132.39 million for the quarter, compared to the consensus estimate 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, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Activity

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares of the company’s stock, 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. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth about $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA during the 4th quarter valued at approximately $40,000. Quarry LP purchased a new position in Rocket Lab USA during the 4th quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC grew its holdings in Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $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.

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.