Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Average Recommendation of “Hold” by Analysts

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.68.

RKLB has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 target price on shares of Rocket Lab USA in a report on Monday, September 30th. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $8.00 to $6.00 in a report on Monday, July 15th. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. KeyCorp increased their price objective on shares of Rocket Lab USA from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group began coverage on shares of Rocket Lab USA in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 target price for the company.

Rocket Lab USA Stock Up 5.9 %

Shares of NASDAQ RKLB opened at $9.80 on Friday. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $10.29. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The business has a fifty day moving average of $6.68 and a two-hundred day moving average of $5.18. The stock has a market cap of $4.87 billion, a PE ratio of -26.49 and a beta of 1.32.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm’s quarterly revenue was up 71.2% on a year-over-year basis. During the same period last year, the firm posted ($0.10) EPS. As a group, equities research analysts expect that Rocket Lab USA will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RKLB. Vanguard Group Inc. increased 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 purchasing an additional 2,448,789 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Rocket Lab USA by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock valued at $156,000 after buying an additional 5,838 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Rocket Lab USA by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after buying an additional 26,605 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Rocket Lab USA by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer’s stock worth $1,209,000 after buying an additional 6,534 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rocket Lab USA by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,950,000 after buying an additional 229,512 shares during the period. 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.