Rocket Lab USA (NASDAQ:RKLB) Sees Unusually-High Trading Volume – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares saw strong trading volume on Monday . 13,854,093 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 16,712,663 shares.The stock last traded at $32.36 and had previously closed at $28.92.

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Needham & Company LLC boosted their target price on shares of Rocket Lab USA from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Citigroup decreased their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average price target of $25.18.

Rocket Lab USA Price Performance

The company has a 50 day moving average price of $22.59 and a 200 day moving average price of $23.68. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of -83.88 and a beta of 2.08. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same period in the prior year, the firm posted ($0.09) EPS. Rocket Lab USA’s revenue was up 32.1% on a year-over-year basis. As a group, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Frank Klein sold 44,885 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $26.66, for a total transaction of $1,196,634.10. Following the transaction, the insider now directly owns 1,370,190 shares in the company, valued at $36,529,265.40. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Arjun Kampani sold 5,194 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $26.52, for a total value of $137,744.88. Following the transaction, the insider now directly owns 535,424 shares in the company, valued at approximately $14,199,444.48. This trade represents a 0.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 136,937 shares of company stock valued at $3,285,279. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Spectrum Wealth Counsel LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth approximately $25,000. Sandy Spring Bank bought a new stake in Rocket Lab USA in the 4th quarter valued at $26,000. Versant Capital Management Inc grew its holdings in Rocket Lab USA by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in Rocket Lab USA in the 1st quarter valued at $29,000. Finally, Farther Finance Advisors LLC increased its position in Rocket Lab USA by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock worth $35,000 after buying an additional 1,226 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.