Rocket Lab USA (NASDAQ:RKLB) Trading Down 5.2%

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price traded down 5.2% during mid-day trading on Monday . The company traded as low as $4.54 and last traded at $4.55. 2,543,054 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 8,186,749 shares. The stock had previously closed at $4.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 target price on the stock. Citigroup dropped their price objective on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a report on Tuesday, May 7th. BTIG Research started coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating on the stock. Wells Fargo & Company dropped their price objective on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. Finally, Roth Mkm restated a “buy” rating and set a $7.00 price objective on shares of Rocket Lab USA in a report on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.65.

Rocket Lab USA Stock Performance

The firm has a market cap of $2.24 billion, a P/E ratio of -12.30 and a beta of 1.25. The stock’s 50 day moving average is $4.31 and its two-hundred day moving average is $4.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The company’s revenue for the quarter was up 69.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. As a group, equities analysts predict that Rocket Lab USA, Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the transaction, the chief financial officer now directly owns 1,383,677 shares in the company, valued at $5,839,116.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the transaction, the general counsel now directly owns 666,121 shares in the company, valued at $2,811,030.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $268,092.38. Following the transaction, the chief financial officer now owns 1,383,677 shares in the company, valued at $5,839,116.94. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently modified their holdings of the stock. Raymond James & Associates lifted its position in shares of Rocket Lab USA by 10.3% during the fourth quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock worth $121,000 after purchasing an additional 2,040 shares in the last quarter. Cerity Partners LLC lifted its holdings in Rocket Lab USA by 14.5% in the fourth quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock valued at $97,000 after buying an additional 2,230 shares during the period. New York State Common Retirement Fund lifted its holdings in Rocket Lab USA by 2.5% in the fourth quarter. New York State Common Retirement Fund now owns 114,781 shares of the rocket manufacturer’s stock valued at $635,000 after buying an additional 2,845 shares during the period. Avitas Wealth Management LLC lifted its holdings in Rocket Lab USA by 2.5% in the fourth quarter. Avitas Wealth Management LLC now owns 121,332 shares of the rocket manufacturer’s stock valued at $671,000 after buying an additional 2,913 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.