Rocket Lab USA (NASDAQ:RKLB) Trading 2.1% Higher – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 2.1% during trading on Tuesday . The company traded as high as $27.16 and last traded at $27.11. Approximately 5,546,235 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 17,068,866 shares. The stock had previously closed at $26.55.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RKLB shares. Roth Capital lifted their price target on shares of Rocket Lab USA from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Stifel Nicolaus raised their price objective on Rocket Lab USA from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. KeyCorp reaffirmed an “overweight” rating on shares of Rocket Lab USA in a report on Tuesday, June 3rd. Citigroup decreased their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their price objective on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.18.

Rocket Lab USA Stock Performance

The business has a fifty day moving average price of $23.73 and a 200-day moving average price of $23.76. The stock has a market capitalization of $11.84 billion, a P/E ratio of -70.51 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 announced its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $122.57 million during the quarter, compared to analysts’ expectations of $120.74 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Rocket Lab USA’s revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Frank Klein sold 2,546 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $30.00, for a total transaction of $76,380.00. Following the completion of the transaction, the insider now directly owns 1,365,826 shares in the company, valued at $40,974,780. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arjun Kampani sold 5,194 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $30.00, for a total transaction of $155,820.00. Following the transaction, the insider now owns 530,230 shares of the company’s stock, valued at approximately $15,906,900. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,289 shares of company stock valued at $2,670,934. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently added to or reduced their stakes in the stock. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA during the 4th quarter worth $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc increased its stake in Rocket Lab USA by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Rocket Lab USA during the 1st quarter worth about $29,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Rocket Lab USA by 181.1% in the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock worth $35,000 after buying an additional 1,226 shares during the last quarter. Hedge funds and other institutional investors 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.