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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.86.

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday, September 3rd. The Goldman Sachs Group began coverage on Rocket Lab USA in a report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research report on Tuesday, June 18th. BTIG Research assumed coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They issued a “neutral” rating for the company. Finally, Citigroup boosted their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th.

Insider Activity

In related news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the sale, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,521 shares of company stock worth $906,059. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of Rocket Lab USA in the 2nd quarter worth approximately $5,469,000. Tocqueville Asset Management L.P. boosted its holdings in shares of Rocket Lab USA by 217.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock worth $5,277,000 after acquiring an additional 879,160 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after acquiring an additional 432,501 shares during the last quarter. Finally, ARK Investment Management LLC increased its holdings in Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after purchasing an additional 391,778 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Trading Down 4.4 %

NASDAQ RKLB opened at $5.81 on Tuesday. The company has a market capitalization of $2.86 billion, a PE ratio of -15.70 and a beta of 1.27. The firm’s fifty day simple moving average is $5.56 and its 200-day simple moving average is $4.68. Rocket Lab USA has a 1-year low of $3.47 and a 1-year 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.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The company had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. During the same quarter in the prior year, the company posted ($0.10) EPS. The firm’s revenue was up 71.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Rocket Lab USA will post -0.4 earnings per share for the current fiscal year.

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.