Rocket Lab USA (NASDAQ:RKLB) Reaches New 1-Year Low at $3.47

Rocket Lab USA, Inc. (NASDAQ:RKLB) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $3.47 and last traded at $3.48, with a volume of 1247367 shares. The stock had previously closed at $3.53.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 price target on shares of Rocket Lab USA in a report on Friday, December 22nd. KeyCorp began coverage on shares of Rocket Lab USA in a report on Wednesday, January 17th. They set an “overweight” rating and a $8.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a report on Thursday, April 4th. Finally, Citigroup reissued a “buy” rating and set a $6.00 target price on shares of Rocket Lab USA in a report on Monday, February 12th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average price target of $7.46.

Rocket Lab USA Trading Up 0.3 %

The company has a market cap of $1.75 billion, a price-to-earnings ratio of -9.39 and a beta of 1.17. The company has a quick ratio of 1.65, a current ratio of 2.13 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average is $4.23 and its 200 day moving average is $4.51.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $59.99 million for the quarter, compared to analyst estimates of $62.90 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) EPS. Research analysts predict that Rocket Lab USA, Inc. will post -0.42 EPS for the current year.

Insider Activity at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the sale, the general counsel now owns 695,147 shares in the company, valued at $2,954,374.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $133,424.50. Following the sale, the general counsel now owns 695,147 shares in the company, valued at $2,954,374.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $285,430.00. Following the completion of the sale, the chief financial officer now owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Rocket Lab USA in the second quarter valued at about $27,000. FNY Investment Advisers LLC acquired a new position in Rocket Lab USA during the fourth quarter worth about $34,000. Allspring Global Investments Holdings LLC acquired a new position in Rocket Lab USA during the third quarter worth about $40,000. Tower Research Capital LLC TRC boosted its position in Rocket Lab USA by 79.5% during the first quarter. Tower Research Capital LLC TRC now owns 10,014 shares of the rocket manufacturer’s stock worth $40,000 after acquiring an additional 4,435 shares during the last quarter. Finally, Baxter Bros Inc. acquired a new position in Rocket Lab USA during the first quarter worth about $40,000. 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.