Rocket Lab USA (NASDAQ:RKLB) Shares Up 7.3% – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price shot up 7.3% on Tuesday . The company traded as high as $22.10 and last traded at $20.52. 16,469,908 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 15,177,559 shares. The stock had previously closed at $19.13.

Analysts Set New Price Targets

Several analysts have recently issued reports on RKLB shares. Morgan Stanley upped their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Stifel Nicolaus raised their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. KeyCorp cut their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Citigroup dropped their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.72.

Rocket Lab USA Stock Up 7.8 %

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 $9.36 billion, a P/E ratio of -55.76 and a beta of 2.08. The business’s fifty day moving average is $20.99 and its two-hundred day moving average is $20.64.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Equities analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction 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 transaction, the insider now directly owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Rocket Lab USA by 149.2% in the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after purchasing an additional 30,178 shares in the last quarter. Franklin Resources Inc. purchased a new position in Rocket Lab USA during the 3rd quarter worth $107,000. Udine Wealth Management Inc. purchased a new stake in Rocket Lab USA in the fourth quarter valued at about $1,342,000. Finally, Van ECK Associates Corp boosted its holdings in Rocket Lab USA by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer’s stock worth $4,237,000 after acquiring an additional 35,293 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.