Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Michael D. Griffin Sells 39,446 Shares

Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rocket Lab USA Stock Down 0.5 %

Shares of NASDAQ RKLB opened at $6.09 on Thursday. The stock has a 50-day moving average price of $5.37 and a two-hundred day moving average price of $4.62. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $7.36. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -16.46 and a beta of 1.25.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm’s revenue was up 71.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) EPS. As a group, analysts forecast that Rocket Lab USA, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Lab USA

Hedge funds have recently modified their holdings of the company. Spire Wealth Management raised its position in Rocket Lab USA by 257.1% in the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock valued at $41,000 after purchasing an additional 7,200 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Rocket Lab USA during the 2nd quarter worth approximately $46,000. Baxter Bros Inc. bought a new stake in Rocket Lab USA during the 2nd quarter worth approximately $48,000. Finally, Amalgamated Bank grew its holdings in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analysts Set New Price Targets

RKLB has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $8.00 to $6.00 in a research report on Monday, July 15th. Citigroup lifted their price objective on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 target price on shares of Rocket Lab USA in a report on Monday, July 22nd. BTIG Research started coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They issued a “neutral” rating for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $7.00 price objective on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.75.

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.