Rocket Lab USA (NASDAQ:RKLB) Issues Earnings Results, Beats Expectations By $0.01 EPS

Rocket Lab USA (NASDAQ:RKLB) released its earnings results on Tuesday. The rocket manufacturer reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01, reports. The firm had revenue of $104.81 million for the quarter, compared to analyst estimates of $102.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Rocket Lab USA updated its Q4 2024 guidance to EPS.

Rocket Lab USA Stock Performance

RKLB opened at $16.97 on Friday. The business’s 50-day moving average price is $9.89 and its two-hundred day moving average price is $6.70. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $22.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.43.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. The trade was a 4.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. This trade represents a 48.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock valued at $906,059 over the last three months. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its stake in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after buying an additional 4,032 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Rocket Lab USA during the second quarter valued at approximately $46,000. Baxter Bros Inc. bought a new position in Rocket Lab USA in the second quarter valued at approximately $48,000. Amalgamated Bank increased its position in shares of 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 purchasing an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Rocket Lab USA during the 2nd quarter worth approximately $67,000. Institutional investors own 71.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on RKLB shares. Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup increased their target price on shares of Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. KeyCorp boosted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their target price on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $14.72.

About Rocket Lab USA

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.