Rocket Lab USA (NASDAQ:RKLB) PT Raised to $5.00

Rocket Lab USA (NASDAQ:RKLB) had its price target hoisted by The Goldman Sachs Group from $4.50 to $5.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the rocket manufacturer’s stock.

RKLB has been the subject of a number of other reports. Roth Mkm restated a buy rating and set a $7.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Morgan Stanley cut shares of Rocket Lab USA from an overweight rating to an equal weight rating and reduced their price objective for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. BTIG Research started coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They set a neutral rating for the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $7.00 target price on shares of Rocket Lab USA in a report on Monday, September 30th. Finally, Citigroup increased their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a buy rating in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $6.75.

Rocket Lab USA Trading Up 3.3 %

Shares of NASDAQ RKLB opened at $9.70 on Thursday. 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 has a 12 month low of $3.47 and a 12 month high of $10.29. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -27.71 and a beta of 1.32. The business has a fifty day simple moving average of $7.12 and a 200-day simple moving average of $5.39.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The business had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The firm’s quarterly revenue was up 71.2% on a year-over-year basis. Sell-side analysts predict that Rocket Lab USA will post -0.39 EPS for the current year.

Insider Activity at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated 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 owns 1,321,165 shares in the company, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the business’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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’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 transaction of $198,798.48. Following the transaction, the general counsel now directly owns 637,558 shares in the company, valued at $4,437,403.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,521 shares of company stock valued at $906,059. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several large investors have recently modified their holdings of RKLB. Virtu Financial LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth about $852,000. Vanguard Group Inc. raised its position in Rocket Lab USA by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer’s stock valued at $146,831,000 after purchasing an additional 451,370 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in Rocket Lab USA during the first quarter worth $145,000. 180 Wealth Advisors LLC boosted its holdings in shares of Rocket Lab USA by 35.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer’s stock valued at $154,000 after purchasing an additional 9,747 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Rocket Lab USA by 196.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 65,014 shares of the rocket manufacturer’s stock valued at $267,000 after purchasing an additional 43,095 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

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.