Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 4.3%

Rocket Lab USA, Inc. (NASDAQ:RKLB) was down 4.3% during mid-day trading on Thursday . The stock traded as low as $4.67 and last traded at $4.70. Approximately 2,063,399 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 8,027,359 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

RKLB has been the topic of several recent analyst reports. Citigroup reduced their price objective on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price objective for the company. Wells Fargo & Company decreased 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 research note on Thursday, April 4th. Roth Mkm restated a “buy” rating and issued a $7.00 target price on shares of Rocket Lab USA in a research note on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price objective on shares of Rocket Lab USA in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.65.

Rocket Lab USA Stock Performance

The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average is $4.18 and its two-hundred day moving average is $4.46.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The company’s quarterly revenue was up 69.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. Analysts predict that Rocket Lab USA, Inc. will post -0.41 earnings per share for the current year.

Insider Activity at Rocket Lab USA

In related news, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $268,092.38. Following the completion of the transaction, the chief financial officer now directly owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 29,026 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $122,489.72. Following the sale, the general counsel now owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $268,092.38. Following the completion of the sale, the chief financial officer now directly owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Rocket Lab USA by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,100,419 shares of the rocket manufacturer’s stock valued at $114,320,000 after buying an additional 1,167,403 shares during the period. Van ECK Associates Corp increased its holdings in Rocket Lab USA by 20.2% in the 4th quarter. Van ECK Associates Corp now owns 95,704 shares of the rocket manufacturer’s stock valued at $529,000 after buying an additional 16,115 shares during the period. Graham Capital Management L.P. bought a new stake in Rocket Lab USA in the 3rd quarter valued at $221,000. Foundations Investment Advisors LLC bought a new stake in Rocket Lab USA in the 4th quarter valued at $116,000. Finally, American Century Companies Inc. grew its holdings in shares of Rocket Lab USA by 12.0% in the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock worth $16,213,000 after purchasing an additional 396,501 shares during the last quarter. Institutional investors 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.