Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $6.65 Average PT from Brokerages

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $6.65.

A number of brokerages have recently issued reports on RKLB. Roth Mkm reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price target on shares of Rocket Lab USA in a report on Thursday. Wells Fargo & Company lowered 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 report on Thursday, April 4th. Citigroup lowered their price target on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group began coverage on shares of Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price target for the company.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock opened at $5.01 on Thursday. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $8.05. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -13.54 and a beta of 1.23. The company has a fifty day moving average of $4.18 and a 200-day moving average of $4.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.69 and a current ratio of 3.12.

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

Insiders Place Their Bets

In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction on 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA 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 directly owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $268,092.38. Following the transaction, the chief financial officer now directly owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RKLB. Vanguard Group Inc. lifted its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after acquiring an additional 2,448,789 shares during the period. Tocqueville Asset Management L.P. lifted its position in Rocket Lab USA by 217.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock valued at $5,277,000 after acquiring an additional 879,160 shares during the period. Qube Research & Technologies Ltd bought a new stake in Rocket Lab USA during the 3rd quarter valued at about $2,271,000. American Century Companies Inc. increased its stake in Rocket Lab USA by 12.0% during the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after purchasing an additional 396,501 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Rocket Lab USA by 15.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,057,607 shares of the rocket manufacturer’s stock valued at $9,012,000 after purchasing an additional 269,388 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.