Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $7.39 Average PT from Analysts

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLBGet Free Report) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.39.

Several research analysts have recently issued reports on RKLB shares. Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 target price on shares of Rocket Lab USA in a report on Tuesday, May 28th. Citigroup reduced their price objective on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th.

Check Out Our Latest Stock Report on Rocket Lab USA

Insiders Place Their Bets

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $133,424.50. Following the completion of the transaction, the general counsel now owns 695,147 shares in the company, valued at $2,954,374.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Adam C. Spice sold 63,529 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $268,092.38. Following the completion of the transaction, the chief financial officer now directly owns 1,383,677 shares in the company, valued at $5,839,116.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction 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 owns 695,147 shares of the company’s stock, valued at $2,954,374.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,109 shares of company stock worth $809,437. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at $34,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Rocket Lab USA during the third quarter valued at $40,000. Spire Wealth Management boosted its position in shares of 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 during the last quarter. CenterBook Partners LP purchased a new stake in shares of Rocket Lab USA during the third quarter valued at $44,000. Finally, MQS Management LLC purchased a new stake in shares of Rocket Lab USA during the third quarter valued at $44,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $4.37 on Friday. The business has a 50 day moving average of $3.99 and a 200 day moving average of $4.44. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -11.81 and a beta of 1.18. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $8.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69.

Rocket Lab USA (NASDAQ:RKLBGet Free Report) last released its earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $92.80 million during the quarter, compared to the consensus estimate of $94.98 million. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. Rocket Lab USA’s quarterly revenue was up 69.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. On average, sell-side analysts predict that Rocket Lab USA will post -0.41 earnings per share for the current fiscal year.

Rocket Lab USA Company Profile

(Get Free Report

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.

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Analyst Recommendations for Rocket Lab USA (NASDAQ:RKLB)

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