Rocket Lab USA (NASDAQ:RKLB) Trading Down 5.2%

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded down 5.2% during trading on Monday . The stock traded as low as $4.54 and last traded at $4.55. 2,543,054 shares were traded during trading, a decline of 69% from the average session volume of 8,186,749 shares. The stock had previously closed at $4.80.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup lowered their price target on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Roth Mkm reiterated a “buy” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research note on Tuesday, June 18th. BTIG Research started coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They issued a “neutral” rating on the stock. The Goldman Sachs Group started coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price objective on the stock. Finally, Wells Fargo & Company reduced their price objective on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.65.

Rocket Lab USA Price Performance

The stock has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $4.47. The company has a market cap of $2.24 billion, a PE ratio of -12.30 and a beta of 1.25. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The company had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 69.0% compared to the same quarter last year. On average, equities analysts predict that Rocket Lab USA, Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the sale, the general counsel now directly owns 666,121 shares in the company, valued at approximately $2,811,030.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the sale, the general counsel now directly owns 666,121 shares in the company, valued at approximately $2,811,030.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the transaction, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $34,000. Spire Wealth Management raised its position in shares of Rocket Lab USA by 257.1% during the 1st quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after purchasing an additional 7,200 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after purchasing an additional 4,032 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $61,000. Finally, Psagot Value Holdings Ltd. Israel raised its position in shares of Rocket Lab USA by 1,044.9% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 14,037 shares of the rocket manufacturer’s stock worth $81,000 after purchasing an additional 12,811 shares during the last quarter. 71.78% of the stock is currently 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.