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

Shares of Rocket Lab Corporation (NASDAQ:RKLB) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $72.9167.

Several equities analysts have recently weighed in on RKLB shares. Roth Mkm restated a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a report on Tuesday, November 11th. Morgan Stanley upgraded shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $67.00 to $105.00 in a research report on Friday, January 16th. The Goldman Sachs Group raised their target price on shares of Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd.

Insider Transactions at Rocket Lab

In related news, CFO Adam C. Spice sold 1,365,665 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the completion of the sale, the chief financial officer directly owned 1,359,568 shares of the company’s stock, valued at approximately $102,647,384. This trade represents a 50.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Klein sold 100,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $72.95, for a total value of $7,295,000.00. Following the transaction, the insider owned 1,169,487 shares of the company’s stock, valued at approximately $85,314,076.65. The trade was a 7.88% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,306,150 shares of company stock valued at $271,865,732. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after buying an additional 92,849 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Rocket Lab by 1,812.1% in the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after purchasing an additional 34,882 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Rocket Lab by 53.8% in the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after purchasing an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Rocket Lab by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after purchasing an additional 90,758 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in Rocket Lab by 1.0% during the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after purchasing an additional 681 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Up 4.9%

Shares of NASDAQ RKLB opened at $75.86 on Tuesday. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. Rocket Lab has a 12-month low of $14.71 and a 12-month high of $99.58. The firm’s 50-day moving average price is $73.74 and its 200-day moving average price is $58.72. The stock has a market capitalization of $40.52 billion, a price-to-earnings ratio of -199.63 and a beta of 2.16.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $155.08 million for the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) earnings per share. On average, equities research analysts anticipate that Rocket Lab will post -0.38 EPS for the current fiscal year.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.