Rocket Lab USA (NASDAQ:RKLB) Shares Gap Up – Here’s Why

by · The Markets Daily

Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $22.38, but opened at $23.20. Rocket Lab USA shares last traded at $22.57, with a volume of 3,120,068 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RKLB. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Citigroup dropped 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. KeyCorp reduced their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company cut their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.25.

View Our Latest Stock Analysis on Rocket Lab USA

Rocket Lab USA Stock Down 2.4 %

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a fifty day simple moving average of $19.57 and a 200 day simple moving average of $21.32. The firm has a market capitalization of $9.91 billion, a P/E ratio of -58.88 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). 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 $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. On average, equities analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the transaction, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA during the 4th quarter valued at about $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $26,000. Versant Capital Management Inc boosted its holdings in shares of 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 in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of Rocket Lab USA during the 1st quarter worth approximately $29,000. Finally, Farther Finance Advisors LLC boosted its stake in 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 valued at $35,000 after acquiring an additional 1,226 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

About Rocket Lab USA

(Get Free Report)

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.

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