Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.8% – Still a Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) rose 0.8% during mid-day trading on Friday . The company traded as high as $20.43 and last traded at $19.98. Approximately 21,051,135 shares traded hands during trading, an increase of 6% from the average daily volume of 19,909,641 shares. The stock had previously closed at $19.83.

Analysts Set New Price Targets

RKLB has been the topic of several recent research reports. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Wells Fargo & Company increased their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. KeyCorp lowered their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.61.

Rocket Lab USA Price Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm has a market capitalization of $10.22 billion, a PE ratio of -55.25 and a beta of 1.99. The business’s 50 day moving average is $26.71 and its two-hundred day moving average is $17.91.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share 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 company had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. As a group, research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now directly owns 132,294 shares in the company, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position 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 buying an additional 3,684,195 shares during the period. Two Sigma Advisers LP bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at about $72,623,000. BNP Paribas Financial Markets bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at about $56,977,000. Two Sigma Investments LP purchased a new stake in Rocket Lab USA during the 4th quarter valued at about $47,074,000. Finally, Renaissance Technologies LLC grew its position in Rocket Lab USA by 1,765.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock worth $46,325,000 after acquiring an additional 1,721,300 shares during the last quarter. 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.