Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down to $5.04

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares gapped down prior to trading on Tuesday . The stock had previously closed at $5.04, but opened at $4.26. Rocket Lab USA shares last traded at $4.56, with a volume of 7,198,319 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup increased their price target on Rocket Lab USA from $4.55 to $7.40 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Roth Mkm reiterated a “buy” rating and set a $10.00 target price on shares of Rocket Lab USA in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of Rocket Lab USA from $5.50 to $6.75 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rocket Lab USA has a consensus rating of “Hold” and an average target price of $9.27.

Rocket Lab USA Trading Down 8.1 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.83 and a quick ratio of 1.50. The company has a market cap of $2.24 billion, a PE ratio of -12.86 and a beta of 1.06. The firm’s 50 day moving average is $6.41 and its 200 day moving average is $5.20.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Tuesday, August 8th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). Rocket Lab USA had a negative return on equity of 24.98% and a negative net margin of 70.47%. The business had revenue of $62.05 million for the quarter, compared to analyst estimates of $61.68 million. On average, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.37 earnings per share for the current year.

Insider Activity at Rocket Lab USA

In other news, CFO Adam C. Spice sold 61,377 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $5.74, for a total transaction of $352,303.98. Following the sale, the chief financial officer now owns 1,566,293 shares in the company, valued at approximately $8,990,521.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Rocket Lab USA news, CFO Adam C. Spice sold 61,377 shares of Rocket Lab USA stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $5.74, for a total transaction of $352,303.98. Following the transaction, the chief financial officer now directly owns 1,566,293 shares of the company’s stock, valued at $8,990,521.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arjun Kampani sold 20,675 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $5.74, for a total transaction of $118,674.50. Following the completion of the sale, the insider now directly owns 525,390 shares of the company’s stock, valued at approximately $3,015,738.60. The disclosure for this sale can be found here. Insiders have sold 3,720,142 shares of company stock valued at $20,944,469 over the last three months. 15.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in RKLB. Blair William & Co. IL increased its position in Rocket Lab USA by 4.4% during the 1st quarter. Blair William & Co. IL now owns 444,244 shares of the rocket manufacturer’s stock valued at $1,795,000 after purchasing an additional 18,773 shares during the period. Alpine Global Management LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $123,000. Wellington Shields & Co. LLC purchased a new stake in Rocket Lab USA in the first quarter worth $102,000. AWM Investment Company Inc. bought a new stake in Rocket Lab USA during the fourth quarter worth about $758,000. Finally, Crown Wealth Group LLC purchased a new stake in Rocket Lab USA during the 1st quarter valued at about $89,000. Institutional investors own 54.19% of the company’s stock.

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.