Rocket Lab USA (NASDAQ:RKLB) Trading Up 2.8% Following Analyst Upgrade

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price rose 2.8% on Wednesday after Roth Capital raised their price target on the stock from $25.00 to $35.00. Roth Capital currently has a buy rating on the stock. Rocket Lab USA traded as high as $30.78 and last traded at $29.55. Approximately 15,207,302 shares traded hands during trading, a decline of 6% from the average daily volume of 16,177,728 shares. The stock had previously closed at $28.76.

RKLB has been the topic of a number of other research reports. Citigroup decreased their target price 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. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. KeyCorp dropped their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company reduced their price target 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, April 8th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.18.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the transaction, the insider now directly owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently bought and sold shares of RKLB. Nisa Investment Advisors LLC grew its stake in Rocket Lab USA by 134.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer’s stock valued at $237,000 after acquiring an additional 5,325 shares in the last quarter. KBC Group NV increased its holdings in shares of Rocket Lab USA by 36.1% in the 4th quarter. KBC Group NV now owns 14,258 shares of the rocket manufacturer’s stock worth $363,000 after buying an additional 3,779 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in Rocket Lab USA in the fourth quarter valued at $207,000. New Millennium Group LLC increased its position in shares of Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Rocket Lab USA by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after acquiring an additional 334 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business’s 50-day moving average is $21.60 and its 200 day moving average is $23.29. The company has a market cap of $12.40 billion, a PE ratio of -73.92 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results 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 return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $122.57 million during the quarter, compared to analysts’ expectations of $120.74 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.