Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.65.

A number of brokerages have recently commented on RKLB. Roth Mkm reiterated a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday, June 18th. Citigroup cut their target price on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Wells Fargo & Company decreased their price target on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. The Goldman Sachs Group began coverage on Rocket Lab USA in a research report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 target price on shares of Rocket Lab USA in a report on Thursday, June 20th.

Rocket Lab USA Trading Down 3.6 %

Shares of RKLB stock opened at $4.83 on Thursday. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $8.05. The stock’s fifty day moving average price is $4.21 and its two-hundred day moving average price is $4.47. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.69 and a current ratio of 3.12. The company has a market cap of $2.38 billion, a PE ratio of -13.05 and a beta of 1.23.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The company had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. During the same period in the previous year, the firm posted ($0.10) EPS. The firm’s revenue was up 69.0% on a year-over-year basis. Equities analysts predict that Rocket Lab USA will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the transaction, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the sale, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 29,026 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the transaction, the general counsel now directly owns 666,121 shares of the company’s stock, valued at $2,811,030.62. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently modified their holdings of RKLB. Vanguard Group Inc. increased its holdings in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares during the period. Tocqueville Asset Management L.P. raised its position in shares of Rocket Lab USA by 217.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock worth $5,277,000 after buying an additional 879,160 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Rocket Lab USA in the third quarter worth $2,271,000. American Century Companies Inc. boosted its stake in Rocket Lab USA by 12.0% during the third quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after buying an additional 396,501 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Rocket Lab USA by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,057,607 shares of the rocket manufacturer’s stock worth $9,012,000 after buying an additional 269,388 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other 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.