Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) PT at $6.75

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $6.89.

A number of brokerages have recently weighed in on RKLB. KeyCorp increased their target price on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday. JMP Securities began coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Citigroup increased their target price on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research note on Monday, September 30th. Finally, The Goldman Sachs Group raised their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’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 $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction 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 transaction, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock worth $906,059 in the last 90 days. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares during the last quarter. ARK Investment Management LLC increased its position in Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after purchasing an additional 391,778 shares during the period. American Century Companies Inc. raised its holdings in Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after purchasing an additional 432,501 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Rocket Lab USA by 15.7% during the first quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,917,000 after buying an additional 229,512 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

RKLB opened at $11.18 on Wednesday. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $12.09. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of -31.94 and a beta of 1.32. The business has a 50 day moving average of $8.24 and a 200-day moving average of $5.84. 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 announced its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The company 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 firm’s quarterly revenue was up 71.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. On average, equities research analysts expect that Rocket Lab USA will post -0.39 earnings per share for the current year.

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.