Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 0.6% – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares rose 0.6% during mid-day trading on Friday . The company traded as high as $18.59 and last traded at $18.65. Approximately 2,609,992 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 14,414,588 shares. The stock had previously closed at $18.53.

Analysts Set New Price Targets

RKLB has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. KeyCorp dropped their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Citigroup dropped their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company dropped their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Price Performance

The business has a 50-day simple moving average of $24.36 and a 200 day simple moving average of $19.01. The firm has a market cap of $8.44 billion, a P/E ratio of -50.46 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

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

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the transaction, the insider now owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This represents a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA in the 4th quarter worth approximately $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA during the 4th quarter valued at approximately $40,000. Quarry LP bought a new position in Rocket Lab USA during the 4th quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC increased its position in Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after buying an additional 1,750 shares in 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.