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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $7.39.

A number of equities research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a report on Thursday, April 4th. KeyCorp initiated coverage on Rocket Lab USA in a research report on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 target price for the company. Finally, Citigroup cut their price target on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a report on Tuesday.

Rocket Lab USA Stock Down 2.2 %

Shares of NASDAQ:RKLB opened at $3.97 on Wednesday. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $8.05. 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 business’s 50-day moving average is $3.99 and its 200-day moving average is $4.44. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -10.45 and a beta of 1.18.

Rocket Lab USA (NASDAQ:RKLB) last issued 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. The firm had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The company’s revenue was up 69.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) earnings per share. Equities research analysts predict that Rocket Lab USA will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the completion of the transaction, the chief financial officer now owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Arjun Kampani sold 31,394 shares of the company’s stock in a transaction on 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 owns 695,147 shares in the company, valued at $2,954,374.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the completion of the sale, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at approximately $6,129,375.50. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab USA by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,100,419 shares of the rocket manufacturer’s stock worth $114,320,000 after buying an additional 1,167,403 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Rocket Lab USA in the third quarter valued at about $2,271,000. American Century Companies Inc. grew its position in shares of Rocket Lab USA by 12.0% during the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after acquiring an additional 396,501 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rocket Lab USA by 15.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,057,607 shares of the rocket manufacturer’s stock worth $9,012,000 after purchasing an additional 269,388 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Rocket Lab USA by 20.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,415,596 shares of the rocket manufacturer’s stock worth $6,200,000 after purchasing an additional 244,461 shares during the last quarter. 71.78% of the stock is 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.