Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Consensus Rating of “Moderate Buy” by Brokerages

Rocket Lab USA, Inc. (NASDAQ:RKLB) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.86.

A number of equities analysts have weighed in on the company. Cantor Fitzgerald assumed coverage on Rocket Lab USA in a research note on Thursday, October 26th. They issued an “overweight” rating and a $6.00 target price on the stock. Wells Fargo & Company decreased their target price on Rocket Lab USA from $6.75 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 20th. TD Cowen decreased their target price on Rocket Lab USA from $9.50 to $8.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 27th. Citigroup decreased their target price on Rocket Lab USA from $7.40 to $5.75 in a research note on Wednesday, September 20th. Finally, Roth Mkm restated a “buy” rating and issued a $10.00 target price on shares of Rocket Lab USA in a research note on Wednesday, September 27th.

Insider Transactions at Rocket Lab USA

In other news, CEO Peter Beck sold 3,600,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $5.62, for a total value of $20,232,000.00. Following the completion of the transaction, the chief executive officer now owns 50,951,250 shares of the company’s stock, valued at approximately $286,346,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Adam C. Spice sold 61,377 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $5.74, for a total transaction of $352,303.98. Following the completion of the transaction, the chief financial officer now owns 1,566,293 shares of the company’s stock, valued at approximately $8,990,521.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Peter Beck sold 3,600,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $5.62, for a total value of $20,232,000.00. Following the transaction, the chief executive officer now directly owns 50,951,250 shares of the company’s stock, valued at approximately $286,346,025. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,720,142 shares of company stock valued at $20,944,469. Corporate insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in Rocket Lab USA by 18.4% in the 2nd quarter. BlackRock Inc. now owns 23,420,994 shares of the rocket manufacturer’s stock worth $140,526,000 after purchasing an additional 3,634,166 shares during the period. Vanguard Group Inc. raised its holdings in Rocket Lab USA by 6.8% during the third quarter. Vanguard Group Inc. now owns 21,527,157 shares of the rocket manufacturer’s stock valued at $87,615,000 after acquiring an additional 1,377,884 shares during the period. State Street Corp increased its holdings in shares of Rocket Lab USA by 6.1% in the first quarter. State Street Corp now owns 16,150,861 shares of the rocket manufacturer’s stock worth $65,249,000 after purchasing an additional 932,306 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of Rocket Lab USA by 13.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 9,177,786 shares of the rocket manufacturer’s stock worth $34,600,000 after purchasing an additional 1,094,796 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Rocket Lab USA by 19.6% in the second quarter. Geode Capital Management LLC now owns 5,166,222 shares of the rocket manufacturer’s stock worth $30,997,000 after purchasing an additional 845,617 shares during the last quarter. 54.19% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $4.50 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.83 and a quick ratio of 1.50. The business has a fifty day simple moving average of $4.84 and a two-hundred day simple moving average of $5.29. Rocket Lab USA has a 1 year low of $3.48 and a 1 year high of $8.05. The company has a market capitalization of $2.17 billion, a P/E ratio of -12.86 and a beta of 1.23.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Tuesday, August 8th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $62.05 million during the quarter, compared to analysts’ expectations of $61.68 million. Rocket Lab USA had a negative return on equity of 24.98% and a negative net margin of 70.47%. On average, analysts expect that Rocket Lab USA will post -0.37 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.