Rocket Lab USA (NASDAQ:RKLB) Trading Down 0.1% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price dropped 0.1% during mid-day trading on Wednesday . The stock traded as low as $11.35 and last traded at $11.46. Approximately 2,224,175 shares changed hands during trading, a decline of 77% from the average daily volume of 9,856,522 shares. The stock had previously closed at $11.47.

Wall Street Analyst Weigh In

RKLB has been the subject of several research analyst reports. JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. The Goldman Sachs Group raised their target price on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 30th. Finally, KeyCorp lifted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Rocket Lab USA currently has an average rating of “Hold” and an average price target of $6.89.

Rocket Lab USA Stock Up 6.3 %

The stock has a market cap of $5.65 billion, a PE ratio of -31.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The company has a 50 day moving average price of $8.57 and a two-hundred day moving average price of $6.05.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The firm had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The business’s quarterly revenue was up 71.2% compared to the same quarter last year. Analysts expect that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock worth $906,059 over the last ninety days. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Advisors Asset Management Inc. lifted its position in Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after acquiring an additional 4,032 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA during the second quarter valued at approximately $46,000. Baxter Bros Inc. acquired a new position in shares of Rocket Lab USA during the second quarter valued at approximately $48,000. Amalgamated Bank raised its holdings in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of Rocket Lab USA in the second quarter valued at approximately $67,000. Institutional investors and hedge funds 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.