Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Average Recommendation of “Hold” by Analysts

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $6.89.

Several research analysts have weighed in on RKLB shares. KeyCorp boosted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 30th. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. Finally, Citigroup lifted their target price on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th.

Rocket Lab USA Stock Up 1.9 %

NASDAQ:RKLB opened at $11.47 on Wednesday. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of -32.77 and a beta of 1.32. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $12.09. The stock’s 50 day moving average price is $8.42 and its two-hundred day moving average price is $5.98. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business’s quarterly revenue was up 71.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) EPS. Equities research analysts expect that Rocket Lab USA will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In related news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 42,353 shares in the company, valued at $292,235.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 42,353 shares in the company, valued at $292,235.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock worth $906,059 in the last ninety days. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position 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 valued at $44,000 after acquiring an additional 4,032 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $46,000. Baxter Bros Inc. bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $48,000. Amalgamated Bank lifted 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 valued at $58,000 after acquiring an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $67,000. 71.78% of the stock is currently 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.