Rocket Lab USA (NASDAQ:RKLB) Trading 7.1% Higher – Here’s Why

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) traded up 7.1% during trading on Friday . The company traded as high as $18.60 and last traded at $18.82. 4,672,951 shares traded hands during trading, a decline of 68% from the average session volume of 14,404,912 shares. The stock had previously closed at $17.57.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. KeyCorp decreased their price objective 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, February 28th. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Stifel Nicolaus upped their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Up 7.1 %

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’s 50-day moving average is $25.10 and its 200 day moving average is $18.75. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of -50.84 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA during the fourth quarter worth approximately $25,000. Sandy Spring Bank acquired a new stake in shares of Rocket Lab USA in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter worth $40,000. Quarry LP acquired a new stake in shares of Rocket Lab USA in the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC increased its position in shares of Rocket Lab USA by 1,000.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after acquiring an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 71.78% 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.