Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 0.6% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) rose 0.6% during trading on Friday . The company traded as high as $18.59 and last traded at $18.65. Approximately 2,609,992 shares changed hands during trading, a decline of 82% from the average daily volume of 14,414,588 shares. The stock had previously closed at $18.53.

Analysts Set New Price Targets

RKLB has been the topic of a number of recent research reports. 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 report on Friday, February 28th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Stifel Nicolaus increased their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. 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 report on Monday, March 3rd. Finally, The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Trading Up 2.2 %

The firm has a fifty day simple moving average of $24.20 and a two-hundred day simple moving average of $19.18. The stock has a market cap of $8.59 billion, a PE ratio of -51.19 and a beta of 2.06. 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 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 firm had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. As a group, equities analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Frank Klein sold 1,835 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors have recently modified their holdings of the company. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA during the 4th quarter worth approximately $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA during the 4th quarter worth approximately $40,000. Quarry LP bought a new position in Rocket Lab USA during the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC grew its position in 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 worth $49,000 after acquiring an additional 1,750 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.