Rocket Lab USA (NASDAQ:RKLB) Shares Up 7.2% – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 7.2% during mid-day trading on Monday . The stock traded as high as $20.40 and last traded at $20.31. 5,603,532 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 14,478,778 shares. The stock had previously closed at $18.94.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RKLB. Citigroup cut their target price 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. Wells Fargo & Company cut 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 report on Monday, March 3rd. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. KeyCorp cut their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Five equities research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Price 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’s 50-day moving average price is $24.20 and its two-hundred day moving average price is $19.27. The stock has a market cap of $9.09 billion, a PE ratio of -54.10 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. On average, equities analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the firm’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. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

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