Rocket Lab USA (NASDAQ:RKLB) Shares Down 0.9% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) traded down 0.9% during trading on Monday . The company traded as low as $10.97 and last traded at $11.32. 2,797,240 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 9,877,083 shares. The stock had previously closed at $11.42.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RKLB. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley downgraded shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Citigroup lifted their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.89.

Rocket Lab USA Trading Down 1.0 %

The stock has a market cap of $5.62 billion, a P/E ratio of -32.34 and a beta of 1.29. The business’s 50 day simple moving average is $8.66 and its 200 day simple moving average is $6.14. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The company had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Rocket Lab USA’s quarterly revenue was up 71.2% compared to the same quarter last year. On average, analysts expect that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock valued at $906,059 over the last 90 days. 13.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the last quarter. International Assets Investment Management LLC raised its position in Rocket Lab USA by 934.5% in the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock valued at $10,090,000 after purchasing an additional 88,686 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Rocket Lab USA by 18.1% in the first quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock worth $156,000 after purchasing an additional 5,838 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Rocket Lab USA by 40.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock worth $440,000 after purchasing an additional 26,605 shares during the last quarter. Finally, Venture Visionary Partners LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at about $886,000. 71.78% of the stock is currently owned by institutional investors.

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.