Rocket Lab USA (NASDAQ:RKLB) Trading Down 2.3% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) dropped 2.3% during trading on Thursday . The stock traded as low as $19.33 and last traded at $19.92. Approximately 5,527,718 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 14,158,504 shares. The stock had previously closed at $20.40.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RKLB shares. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Citigroup dropped their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus boosted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, KeyCorp decreased their price target 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. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Rocket Lab USA Price Performance

The stock has a 50-day moving average of $26.29 and a two-hundred day moving average of $18.19. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of -50.48 and a beta of 1.99. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last announced its 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 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 analyst estimates of $130.58 million. On average, analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently bought and sold shares of the business. Spectrum Wealth Counsel LLC acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA during the 4th quarter valued at $40,000. Quarry LP purchased a new position in shares of Rocket Lab USA during the 4th quarter valued at $48,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after acquiring an additional 1,750 shares in the last quarter. Hedge funds and other 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.