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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $23.06.

RKLB has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group upped their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th.

Rocket Lab USA Trading Down 4.1 %

Shares of Rocket Lab USA stock opened at $19.44 on Friday. The stock has a market capitalization of $8.82 billion, a P/E ratio of -52.54 and a beta of 2.06. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a 50-day simple moving average of $23.94 and a 200 day simple moving average of $19.48.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Research analysts expect that Rocket Lab USA will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds and other institutional investors have recently modified their holdings of the business. Spectrum Wealth Counsel LLC acquired a new stake in Rocket Lab USA in the fourth quarter valued at about $25,000. Sandy Spring Bank bought a new position in shares of Rocket Lab USA in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $40,000. Quarry LP bought a new stake in shares of Rocket Lab USA during the 4th quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after purchasing an additional 1,750 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

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.