Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $6.68 Average Price Target from Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given a consensus rating of “Hold” by the nine research firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.68.

Several brokerages have issued reports on RKLB. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. BTIG Research initiated coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They set a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Monday. 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 research report on Friday. Finally, The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective on the stock.

Rocket Lab USA Stock Performance

Rocket Lab USA stock opened at $9.73 on Friday. The company’s 50 day simple moving average is $6.26 and its 200 day simple moving average is $5.00. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $10.29.

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 company had revenue of $106.25 million during the quarter, compared to analyst estimates 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 revenue was up 71.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. As a group, equities analysts anticipate that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael D. Griffin sold 39,446 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the business’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 $198,798.48. Following the transaction, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. The disclosure for this sale can be found here. Over the last 90 days, insiders 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC increased its stake in shares of Rocket Lab USA by 3.8% during the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank raised its stake in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the period. 180 Wealth Advisors LLC lifted its position in shares of Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after buying an additional 2,807 shares during the last quarter. Verus Capital Partners LLC boosted its stake in shares of Rocket Lab USA by 11.9% during the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock worth $159,000 after acquiring an additional 3,525 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after acquiring an additional 4,032 shares during the period. 71.78% of the stock is owned by institutional investors.

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.