Rocket Lab USA (NASDAQ:RKLB) Receives New Coverage from Analysts at JMP Securities

JMP Securities started coverage on shares of Rocket Lab USA (NASDAQ:RKLB) in a research note released on Thursday morning, MarketBeat reports. The brokerage issued a market perform rating on the rocket manufacturer’s stock.

A number of other research firms also recently weighed in on RKLB. BTIG Research initiated coverage on shares of Rocket Lab USA in a research report on Wednesday, June 26th. They set a neutral rating for the company. Roth Mkm reiterated a buy rating and set a $7.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Cantor Fitzgerald restated an overweight rating and issued a $7.00 target price on shares of Rocket Lab USA in a report on Monday, September 9th. Citigroup increased their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a buy rating in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group initiated coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They issued a neutral rating and a $4.50 price objective on the stock. Five 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.com, the stock presently has an average rating of Moderate Buy and an average target price of $6.86.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $7.46 on Thursday. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -20.16 and a beta of 1.27. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $7.47. The company’s fifty day moving average is $5.76 and its 200 day moving average is $4.76. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business’s revenue was up 71.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) EPS. Sell-side analysts forecast that Rocket Lab USA will post -0.4 EPS for the current year.

Insider Buying and Selling

In other news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management boosted its holdings in Rocket Lab USA by 257.1% in the 1st 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. Advisors Asset Management Inc. raised its position in shares of 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 in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Rocket Lab USA in the second quarter worth $46,000. Baxter Bros Inc. bought a new stake in Rocket Lab USA during the second quarter valued at $48,000. Finally, Amalgamated Bank grew its position in Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

About Rocket Lab USA

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.