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

Rocket Lab USA, Inc. (NASDAQ:RKLB) has earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.46.

RKLB has been the subject of several research analyst reports. Citigroup reiterated a “buy” rating and issued a $6.00 price objective on shares of Rocket Lab USA in a research report on Monday, February 12th. KeyCorp initiated coverage on shares of Rocket Lab USA in a research report on Wednesday, January 17th. They set an “overweight” rating and a $8.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th.

Rocket Lab USA Stock Up 1.3 %

RKLB opened at $4.00 on Wednesday. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $8.05. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -10.53 and a beta of 1.18. The firm’s 50-day simple moving average is $4.02 and its 200-day simple moving average is $4.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 2.13.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $59.99 million for the quarter, compared to analyst estimates of $62.90 million. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) EPS. Equities research analysts anticipate that Rocket Lab USA will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $133,424.50. Following the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at $2,954,374.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the transaction, the general counsel now owns 695,147 shares in the company, valued at $2,954,374.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Adam C. Spice sold 67,160 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the transaction, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC increased its stake in Rocket Lab USA by 231.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 25,183 shares of the rocket manufacturer’s stock worth $110,000 after purchasing an additional 17,581 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Rocket Lab USA by 91.6% in the third quarter. Commonwealth Equity Services LLC now owns 53,949 shares of the rocket manufacturer’s stock valued at $236,000 after buying an additional 25,793 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Rocket Lab USA by 24.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 68,362 shares of the rocket manufacturer’s stock valued at $299,000 after buying an additional 13,558 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in Rocket Lab USA by 14.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 106,175 shares of the rocket manufacturer’s stock worth $465,000 after buying an additional 13,800 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Rocket Lab USA by 20.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,415,596 shares of the rocket manufacturer’s stock worth $6,200,000 after buying an additional 244,461 shares during the last quarter. 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.