Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 1% – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price traded up 1% during mid-day trading on Wednesday . The company traded as high as $18.41 and last traded at $18.16. 2,773,695 shares were traded during mid-day trading, a decline of 81% from the average session volume of 14,400,421 shares. The stock had previously closed at $17.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RKLB shares. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group raised their price objective 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. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley raised their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Finally, KeyCorp dropped 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 research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Stock Performance

The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average price of $24.71 and a 200 day moving average price of $19.01. The firm has a market cap of $8.27 billion, a PE ratio of -49.04 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last posted 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). The company had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. As a group, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Rocket Lab USA by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after acquiring an additional 668,093 shares in the last quarter. Geode Capital Management LLC grew its position in Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after acquiring an additional 32,658 shares in the last quarter. FMR LLC grew its position in Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. Northern Trust Corp grew its position in Rocket Lab USA by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after acquiring an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after acquiring an additional 23,855 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

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.