Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down to $4.95

Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) shares gapped down prior to trading on Tuesday . The stock had previously closed at $4.95, but opened at $4.80. Rocket Lab USA shares last traded at $4.72, with a volume of 1,182,932 shares changing hands.

Analyst Ratings Changes

RKLB has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on shares of Rocket Lab USA from $5.75 to $5.50 and set an “equal weight” rating for the company in a research report on Monday, March 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Rocket Lab USA from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 7th. Finally, Citigroup started coverage on shares of Rocket Lab USA in a research note on Tuesday, April 18th. They issued a “neutral” rating and a $4.55 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and an average price target of $8.45.

Rocket Lab USA Price Performance

The company has a current ratio of 3.22, a quick ratio of 2.72 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average price of $4.04 and a 200 day moving average price of $4.31.

Rocket Lab USA (NASDAQ:RKLB – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The rocket manufacturer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $51.76 million for the quarter, compared to the consensus estimate of $46.76 million. Rocket Lab USA had a negative return on equity of 22.79% and a negative net margin of 68.77%. Equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Michael D. Griffin sold 50,689 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $4.40, for a total transaction of $223,031.60. Following the sale, the director now owns 88,779 shares of the company’s stock, valued at $390,627.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Michael D. Griffin sold 50,689 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $4.40, for a total transaction of $223,031.60. Following the transaction, the director now directly owns 88,779 shares of the company’s stock, valued at $390,627.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam C. Spice sold 64,189 shares of Rocket Lab USA stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $4.23, for a total transaction of $271,519.47. Following the sale, the chief financial officer now owns 1,686,168 shares in the company, valued at $7,132,490.64. The disclosure for this sale can be found here. Insiders sold 137,410 shares of company stock valued at $589,861 in the last ninety days. Company insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Point72 Hong Kong Ltd acquired a new stake in shares of Rocket Lab USA in the second quarter valued at $27,000. Ieq Capital LLC bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $38,000. International Assets Investment Management LLC acquired a new stake in shares of Rocket Lab USA during the 1st quarter valued at $38,000. HBK Sorce Advisory LLC boosted its stake in shares of Rocket Lab USA by 100.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 50,000 shares of the rocket manufacturer’s stock worth $40,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Capital Investment Counsel Inc acquired a new position in shares of Rocket Lab USA in the 1st quarter worth $40,000. 69.11% of the stock is owned by institutional investors.

Rocket Lab USA Company Profile

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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 engineering and 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.