Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 4.1% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) traded up 4.1% during mid-day trading on Monday . The stock traded as high as $19.95 and last traded at $19.58. 7,317,612 shares were traded during mid-day trading, a decline of 49% from the average session volume of 14,431,686 shares. The stock had previously closed at $18.81.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RKLB. Citigroup lowered their price objective 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. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. KeyCorp reduced their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Stock Up 3.0 %

The business has a 50-day simple moving average of $25.10 and a two-hundred day simple moving average of $18.84. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $8.79 billion, a P/E ratio of -52.61 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last announced 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). The company had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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 acquired a new stake in Rocket Lab USA in the 4th quarter valued at $25,000. Sandy Spring Bank bought a new stake in Rocket Lab USA during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC raised its position in Rocket Lab USA by 1,000.0% during the fourth 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 in the last quarter. Institutional investors and hedge funds 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.