Rocket Lab USA (NASDAQ:RKLB) Trading Down 0% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded down 0% during trading on Wednesday . The company traded as low as $19.66 and last traded at $20.27. 4,376,898 shares were traded during trading, a decline of 70% from the average session volume of 14,496,734 shares. The stock had previously closed at $20.27.

Wall Street Analysts Forecast Growth

RKLB has been the subject of several analyst reports. KeyCorp decreased their target price on 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. Morgan Stanley lifted their price target on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Wells Fargo & Company lowered their price target on shares of 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. 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Trading Down 1.1 %

The business’s 50 day simple moving average is $24.05 and its 200 day simple moving average is $19.48. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of -54.40 and a beta of 2.06. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA in the 4th quarter valued at about $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 increased its holdings in shares of 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 purchasing an additional 1,750 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

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.