Rocket Lab USA (NASDAQ:RKLB) Shares Up 5% – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares shot up 5% during trading on Monday . The stock traded as high as $18.24 and last traded at $17.19. 11,457,975 shares were traded during mid-day trading, a decline of 23% from the average session volume of 14,878,581 shares. The stock had previously closed at $16.37.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RKLB shares. Wells Fargo & Company cut their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Stifel Nicolaus raised their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. KeyCorp reduced their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. 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’s stock. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $22.72.

Rocket Lab USA Trading Up 19.8 %

The company’s 50 day moving average price is $21.86 and its 200 day moving average price is $20.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a market cap of $9.34 billion, a price-to-earnings ratio of -55.65 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB) last announced 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 net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fulton Bank N.A. acquired a new stake in Rocket Lab USA in the 1st quarter worth $193,000. Sanders Morris Harris LLC lifted its stake in shares of Rocket Lab USA by 22.4% in the first quarter. Sanders Morris Harris LLC now owns 34,643 shares of the rocket manufacturer’s stock valued at $619,000 after buying an additional 6,343 shares during the period. Rhumbline Advisers grew its position in Rocket Lab USA by 9.6% during the first quarter. Rhumbline Advisers now owns 525,018 shares of the rocket manufacturer’s stock worth $9,387,000 after buying an additional 45,889 shares in the last quarter. GAMMA Investing LLC increased its stake in Rocket Lab USA by 3,319.2% during the first quarter. GAMMA Investing LLC now owns 19,900 shares of the rocket manufacturer’s stock valued at $356,000 after acquiring an additional 19,318 shares during the period. Finally, Versant Capital Management Inc increased its stake in Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 860 shares during the period. Institutional investors 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.