Rocket Lab USA (NASDAQ:RKLB) Trading 5% Higher – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price traded up 5% on Monday . The stock traded as high as $18.24 and last traded at $17.19. 11,457,975 shares traded hands during trading, a decline of 23% from the average session volume of 14,878,581 shares. The stock had previously closed at $16.37.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RKLB. Morgan Stanley boosted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Stifel Nicolaus upped their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group raised their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. 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 note on Friday, February 28th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Stock Performance

The firm has a market cap of $7.95 billion, a price-to-earnings ratio of -47.35 and a beta of 2.08. The stock has a 50-day moving average of $22.33 and a 200-day moving average of $20.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

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 analysts’ consensus estimates of ($0.09) by ($0.01). The business 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%. As a group, analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Frank Klein sold 1,835 shares of the company’s 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 sale, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after acquiring an additional 3,684,195 shares during the period. Two Sigma Advisers LP bought a new position in Rocket Lab USA during the fourth quarter worth about $72,623,000. BNP Paribas Financial Markets acquired a new position in Rocket Lab USA during the fourth quarter worth approximately $56,977,000. Two Sigma Investments LP acquired a new position in Rocket Lab USA during the fourth quarter worth approximately $47,074,000. Finally, Renaissance Technologies LLC lifted its position in shares of Rocket Lab USA by 1,765.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock valued at $46,325,000 after buying an additional 1,721,300 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.