Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives Average Rating of “Moderate Buy” from Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given a consensus rating of “Moderate Buy” by the fourteen analysts that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $25.18.

Several research firms recently commented on RKLB. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC raised their price target on shares of Rocket Lab USA from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Citigroup reduced their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th.

Rocket Lab USA Trading Up 0.7%

Shares of RKLB opened at $26.91 on Thursday. Rocket Lab USA has a twelve month low of $4.20 and a twelve month high of $33.34. The company has a market cap of $12.20 billion, a P/E ratio of -72.73 and a beta of 2.04. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company’s fifty day simple moving average is $22.20 and its 200-day simple moving average is $23.54.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $122.57 million during the quarter, compared to analysts’ expectations of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.09) EPS. As a group, analysts expect that Rocket Lab USA will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 44,553 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the sale, the insider now directly owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arjun Kampani sold 5,277 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the completion of the sale, the insider now owns 569,606 shares in the company, valued at $17,071,091.82. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,937 shares of company stock worth $3,285,279 in the last three months. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer’s stock valued at $715,728,000 after purchasing an additional 3,833,969 shares during the last quarter. FMR LLC raised its position in shares of Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after purchasing an additional 3,684,195 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at approximately $72,623,000. BNP Paribas Financial Markets purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at approximately $56,977,000. Finally, Two Sigma Investments LP purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at approximately $47,074,000. 71.78% of the stock is currently owned by institutional investors.

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.