Rocket Lab USA (NASDAQ:RKLB) Shares Down 0.7% – Time to Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were down 0.7% on Thursday . The company traded as low as $19.61 and last traded at $20.44. Approximately 4,772,565 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 15,045,312 shares. The stock had previously closed at $20.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RKLB shares. Morgan Stanley increased their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Citigroup reduced their price objective 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 upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Stifel Nicolaus lifted their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.72.

Rocket Lab USA Stock Performance

The business’s 50-day simple moving average is $21.18 and its two-hundred day simple moving average is $20.49. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of -53.05 and a beta of 2.08. 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 posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Equities analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC raised its holdings in Rocket Lab USA by 0.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after acquiring an additional 334 shares in the last quarter. Wellington Shields & Co. LLC raised its holdings in shares of Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock valued at $1,898,000 after purchasing an additional 383 shares in the last quarter. Signaturefd LLC lifted its position in shares of Rocket Lab USA by 12.2% during the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after purchasing an additional 653 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Rocket Lab USA by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock worth $554,000 after purchasing an additional 696 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Rocket Lab USA by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock valued at $384,000 after buying an additional 746 shares during the last quarter. 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.