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

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

Analyst Ratings Changes

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

Rocket Lab USA Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.13 and a quick ratio of 1.65. The firm has a 50-day moving average of $4.26 and a two-hundred day moving average of $4.52.

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

Insider Buying and Selling

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

Institutional Trading of Rocket Lab USA

Several large investors have recently modified their holdings of RKLB. Vanguard Group Inc. grew its stake in Rocket Lab USA by 806.4% in the first quarter. Vanguard Group Inc. now owns 21,373,494 shares of the rocket manufacturer’s stock worth $172,057,000 after purchasing an additional 19,015,363 shares in the last quarter. State Street Corp raised its holdings in shares of Rocket Lab USA by 1,164.6% during the first quarter. State Street Corp now owns 7,942,133 shares of the rocket manufacturer’s stock valued at $63,934,000 after buying an additional 7,314,121 shares during the last quarter. BlackRock Inc. grew its holdings in Rocket Lab USA by 165.6% in the 1st quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock worth $51,878,000 after buying an additional 4,017,797 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Rocket Lab USA by 144.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,086,744 shares of the rocket manufacturer’s stock worth $17,070,000 after buying an additional 1,825,561 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Rocket Lab USA by 460.0% during the 2nd quarter. Northern Trust Corp now owns 1,759,047 shares of the rocket manufacturer’s stock valued at $6,666,000 after purchasing an additional 1,444,907 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.