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. The stock had previously closed at $3.53.

Analyst Ratings Changes

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

Rocket Lab USA Price Performance

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

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $62.90 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. As a group, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.42 EPS for the current fiscal year.

Insider Transactions at Rocket Lab USA

In other news, 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 completion of the sale, the chief financial officer now directly owns 1,442,206 shares of the company’s stock, valued at approximately $6,129,375.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $285,430.00. Following the transaction, the chief financial officer now directly 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

A number of institutional investors and hedge funds have recently bought and sold shares of the company. 180 Wealth Advisors LLC increased its stake in Rocket Lab USA by 35.3% during the 1st quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer’s stock valued at $154,000 after purchasing an additional 9,747 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in Rocket Lab USA during the 1st quarter valued at about $145,000. Vanguard Group Inc. increased its stake in Rocket Lab USA by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer’s stock valued at $146,831,000 after purchasing an additional 451,370 shares in the last quarter. Virtu Financial LLC bought a new stake in Rocket Lab USA during the 4th quarter valued at about $852,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Rocket Lab USA by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 150,034 shares of the rocket manufacturer’s stock valued at $830,000 after purchasing an additional 7,038 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.