Roth Mkm Reiterates “Buy” Rating for Rocket Lab USA (NASDAQ:RKLB)

Rocket Lab USA (NASDAQ:RKLB)‘s stock had its “buy” rating restated by Roth Mkm in a research report issued on Tuesday, Benzinga reports. They presently have a $7.00 price objective on the rocket manufacturer’s stock. Roth Mkm’s target price suggests a potential upside of 42.57% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 target price on shares of Rocket Lab USA in a research note on Tuesday, May 28th. The Goldman Sachs Group initiated coverage on Rocket Lab USA in a report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price objective on the stock. Wells Fargo & Company cut their target price on 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. Finally, Citigroup lowered their price target on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.65.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $4.91 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69. The company has a market cap of $2.42 billion, a P/E ratio of -13.27 and a beta of 1.23. The stock has a 50-day moving average of $4.14 and a two-hundred day moving average of $4.46. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $8.05.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $94.98 million. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The firm’s revenue was up 69.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. As a group, analysts anticipate that Rocket Lab USA will post -0.41 EPS for the current year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $268,092.38. Following the sale, the chief financial officer now directly owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The sale 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 shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the transaction, the general counsel now owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $34,000. Spire Wealth Management grew its position in shares of Rocket Lab USA by 257.1% in the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock valued at $41,000 after purchasing an additional 7,200 shares during the period. MQS Management LLC purchased a new stake in shares of Rocket Lab USA in the third quarter valued at $44,000. CenterBook Partners LP acquired a new position in Rocket Lab USA in the third quarter valued at $44,000. Finally, Advisors Asset Management Inc. lifted its position in Rocket Lab USA by 59.4% during 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. 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.