Rocket Lab USA (NASDAQ:RKLB) Coverage Initiated by Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group began coverage on shares of Rocket Lab USA (NASDAQ:RKLBGet Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $4.50 price target on the rocket manufacturer’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 3.02% from the company’s previous close.

RKLB has been the subject of several other research reports. Wells Fargo & Company dropped their price target 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. Citigroup cut their target price on 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, Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Rocket Lab USA in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.03.

Read Our Latest Analysis on Rocket Lab USA

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $4.64 on Tuesday. The company has a market cap of $2.29 billion, a P/E ratio of -12.54 and a beta of 1.23. The business has a fifty day simple moving average of $4.06 and a 200-day simple moving average of $4.45. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $8.05. The company has a quick ratio of 2.69, a current ratio of 3.12 and a debt-to-equity ratio of 0.86.

Rocket Lab USA (NASDAQ:RKLBGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The firm had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. During the same period last year, the company earned ($0.10) EPS. The firm’s quarterly revenue was up 69.0% on a year-over-year basis. Equities research analysts forecast that Rocket Lab USA will post -0.41 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Adam C. Spice sold 63,529 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the sale, the chief financial officer now owns 1,383,677 shares in the company, valued at $5,839,116.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the sale, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at approximately $5,839,116.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 29,026 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $122,489.72. Following the transaction, the general counsel now directly owns 666,121 shares in the company, valued at approximately $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors have recently modified their holdings of the business. Bayesian Capital Management LP boosted its stake in Rocket Lab USA by 38.7% in the first quarter. Bayesian Capital Management LP now owns 20,800 shares of the rocket manufacturer’s stock valued at $85,000 after acquiring an additional 5,800 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Rocket Lab USA by 153.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 380,965 shares of the rocket manufacturer’s stock worth $1,567,000 after buying an additional 230,931 shares during the last quarter. Lazard Asset Management LLC bought a new position in Rocket Lab USA during the 1st quarter worth $175,000. Advisors Asset Management Inc. increased its position in Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after buying an additional 4,032 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

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.

Further Reading

Analyst Recommendations for Rocket Lab USA (NASDAQ:RKLB)

Receive News & Ratings for Rocket Lab USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Lab USA and related companies with MarketBeat.com's FREE daily email newsletter.