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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $23.25.

Several research firms have recently issued reports on RKLB. Morgan Stanley lifted their price target on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC started coverage on shares of Rocket Lab USA in a research report on Friday, April 25th. They issued a “buy” rating and a $28.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th.

Rocket Lab USA Trading Down 11.0 %

Shares of RKLB opened at $20.56 on Friday. Rocket Lab USA has a twelve month low of $4.15 and a twelve month high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $9.32 billion, a P/E ratio of -55.57 and a beta of 2.04. The firm’s 50-day moving average is $19.69 and its two-hundred day moving average is $22.05.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, research analysts predict that Rocket Lab USA will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Frank Klein sold 1,835 shares of the business’s 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 completion of the sale, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth $2,395,000. SeaCrest Wealth Management LLC acquired a new position in Rocket Lab USA in the fourth quarter valued at $754,000. Smith Anglin Financial LLC grew its position in Rocket Lab USA by 10.3% during the fourth quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer’s stock valued at $299,000 after acquiring an additional 1,096 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in Rocket Lab USA during the fourth quarter worth about $1,758,000. Finally, Connective Portfolio Management LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter worth about $586,000. Hedge funds and other 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.