Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down – Time to Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) gapped down prior to trading on Tuesday . The stock had previously closed at $17.12, but opened at $16.31. Rocket Lab USA shares last traded at $17.22, with a volume of 2,837,942 shares traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Citigroup dropped their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Bank of America raised their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley lifted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, KeyCorp cut their target price 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 analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Stock Up 3.4 %

The company has a market cap of $8.36 billion, a price-to-earnings ratio of -49.81 and a beta of 2.06. 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 stock’s fifty day moving average is $25.45 and its two-hundred day moving average is $18.58.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data 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 during 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%. Sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently bought and sold shares of the company. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the fourth quarter valued at about $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Rocket Lab USA in the 4th quarter valued at about $40,000. Quarry LP bought a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Rocket Lab USA by 1,000.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after buying an additional 1,750 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other 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.