Rocket Lab Corporation (NASDAQ:RKLB) Receives Average Rating of “Moderate Buy” from Analysts

Rocket Lab Corporation (NASDAQ:RKLB) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $42.2727.

Several equities analysts have recently weighed in on RKLB shares. Roth Capital raised their target price on Rocket Lab from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. The Goldman Sachs Group started coverage on Rocket Lab in a research report on Monday, June 30th. They issued a “neutral” rating and a $27.00 target price on the stock. Bank of America raised their target price on Rocket Lab from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Craig Hallum started coverage on Rocket Lab in a research report on Monday, July 28th. They issued a “hold” rating and a $51.00 target price on the stock. Finally, KeyCorp raised their target price on Rocket Lab from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, August 8th.

Insider Buying and Selling

In other Rocket Lab news, Director Merline Saintil sold 6,353 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total transaction of $212,063.14. Following the completion of the sale, the director owned 419,569 shares of the company’s stock, valued at $14,005,213.22. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Klein sold 2,546 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $76,380.00. Following the sale, the insider directly owned 1,365,826 shares of the company’s stock, valued at approximately $40,974,780. This trade represents a 0.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,130,995 shares of company stock worth $29,686,039 in the last three months. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Kingstone Capital Partners Texas LLC acquired a new stake in Rocket Lab during the second quarter worth $192,918,000. Norges Bank acquired a new stake in Rocket Lab during the second quarter worth $164,751,000. Vanguard Group Inc. increased its stake in Rocket Lab by 10.6% during the first quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer’s stock worth $715,728,000 after acquiring an additional 3,833,969 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in Rocket Lab during the fourth quarter worth $72,623,000. Finally, Invesco Ltd. increased its stake in Rocket Lab by 67.0% during the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after acquiring an additional 2,504,054 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab Stock Performance

Shares of RKLB stock opened at $44.97 on Tuesday. The company has a market capitalization of $21.56 billion, a P/E ratio of -99.93 and a beta of 2.17. The business’s 50 day moving average is $39.52 and its two-hundred day moving average is $28.43. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60. Rocket Lab has a 12-month low of $5.74 and a 12-month high of $53.44.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $144.50 million during the quarter, compared to analysts’ expectations of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. The business’s revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. Analysts expect that Rocket Lab will post -0.38 EPS for the current fiscal year.

Rocket Lab 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.