Rocket Lab USA (NASDAQ:RKLB) Shares Up 3.8% After Analyst Upgrade

Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 3.8% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $18.00 to $20.00. Morgan Stanley currently has an equal weight rating on the stock. Rocket Lab USA traded as high as $17.77 and last traded at $17.77. 6,519,807 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 14,324,913 shares. The stock had previously closed at $17.12.

RKLB has been the subject of several other research reports. Wells Fargo & Company lowered their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Bank of America raised their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Cantor Fitzgerald raised their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Institutional Trading of Rocket Lab USA

Hedge funds have recently bought and sold shares of the business. Spectrum Wealth Counsel LLC acquired a new stake in Rocket Lab USA in the 4th quarter valued at $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA during the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA during the 4th quarter valued at $40,000. Quarry LP bought a new position in Rocket Lab USA during the 4th quarter valued at $48,000. Finally, NewEdge Advisors LLC lifted its stake in Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after acquiring an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Trading Up 4.1 %

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 firm has a 50 day simple moving average of $25.59 and a two-hundred day simple moving average of $18.58. The firm has a market capitalization of $8.09 billion, a P/E ratio of -48.19 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $130.58 million. Equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

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.