Rocket Lab USA (NASDAQ:RKLB) Shares Down 1.5% – Should You Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) traded down 1.5% during trading on Thursday . The stock traded as low as $19.42 and last traded at $19.67. 4,270,431 shares were traded during trading, a decline of 72% from the average session volume of 15,213,335 shares. The stock had previously closed at $19.98.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RKLB. Wells Fargo & Company dropped their price target on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. KeyCorp decreased 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. Finally, Stifel Nicolaus upped 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. Five investment 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.72.

Rocket Lab USA Price Performance

The firm has a market capitalization of $8.95 billion, a P/E ratio of -53.35 and a beta of 2.08. 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 firm has a 50-day moving average of $20.32 and a 200-day moving average of $20.78.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (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 firm had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. As a group, 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 1,835 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the fourth quarter valued at approximately $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA in the fourth quarter valued at approximately $40,000. Versant Capital Management Inc lifted its position in Rocket Lab USA by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 860 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in Rocket Lab USA during the 1st quarter valued at $29,000. Institutional investors and hedge funds 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.