Rocket Lab USA (NASDAQ:RKLB) Price Target Lowered to $5.45 at Citigroup

Rocket Lab USA (NASDAQ:RKLB) had its price target cut by Citigroup from $6.00 to $5.45 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the rocket manufacturer’s stock.

A number of other equities analysts have also recently issued reports on the stock. KeyCorp began coverage on shares of Rocket Lab USA in a research report on Wednesday, January 17th. They set an overweight rating and a $8.00 target price for the company. Wells Fargo & Company lowered their target price on Rocket Lab USA from $5.00 to $4.25 and set an equal weight rating on the stock in a report on Thursday, April 4th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $7.39.

Rocket Lab USA Stock Down 2.2 %

Shares of NASDAQ RKLB opened at $3.97 on Tuesday. The company has a quick ratio of 1.65, a current ratio of 2.13 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $3.99 and a 200 day moving average price of $4.44. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $8.05. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -10.45 and a beta of 1.18.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The firm had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $94.98 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. Rocket Lab USA’s revenue was up 69.0% on a year-over-year basis. Equities research analysts anticipate that Rocket Lab USA will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other news, CFO Adam C. Spice sold 67,160 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now owns 1,442,206 shares in the company, valued at $6,129,375.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Adam C. Spice sold 67,160 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $285,430.00. Following the transaction, the chief financial officer now directly owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 31,394 shares of the business’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 transaction of $133,424.50. Following the completion of the sale, the general counsel now owns 695,147 shares of the company’s stock, valued at $2,954,374.75. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. FNY Investment Advisers LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter worth about $34,000. Allspring Global Investments Holdings LLC purchased a new position in Rocket Lab USA in the third quarter valued at approximately $40,000. Spire Wealth Management lifted its position in Rocket Lab USA by 257.1% during the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock valued at $41,000 after buying an additional 7,200 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Rocket Lab USA during the third quarter worth approximately $44,000. Finally, CenterBook Partners LP acquired a new stake in shares of Rocket Lab USA in the third quarter worth $44,000. Institutional investors and hedge funds 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.