Rocket Lab USA (NASDAQ:RKLB) Trading Down 0.3% – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price traded down 0.3% on Thursday . The stock traded as low as $18.16 and last traded at $18.72. 2,456,489 shares traded hands during trading, a decline of 83% from the average session volume of 14,422,018 shares. The stock had previously closed at $18.78.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective 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. The Goldman Sachs Group increased their price target 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. KeyCorp lowered their target price on shares of 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. Morgan Stanley lifted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Five research 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 stock. Based on data from MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Price Performance

The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of -49.78 and a beta of 2.06. The stock has a 50 day moving average price of $24.54 and a 200-day moving average price of $19.01. 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 quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS 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 business had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. On average, 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 Rocket Lab USA news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in Rocket Lab USA during the 3rd quarter worth approximately $139,000. Victory Capital Management Inc. raised its position in shares of Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after purchasing an additional 1,709 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at approximately $128,000. Advisors Asset Management Inc. raised its position in shares of Rocket Lab USA by 28.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after purchasing an additional 3,220 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at approximately $921,000. 71.78% of the stock is owned by institutional investors and hedge funds.

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.