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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have received an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.65.

Several equities analysts have recently weighed in on RKLB shares. The Goldman Sachs Group started coverage on Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price target on shares of Rocket Lab USA in a report on Tuesday, May 28th. Roth Mkm reissued a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday. Wells Fargo & Company lowered their price target on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. Finally, Citigroup lowered their price target on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a report on Tuesday, May 7th.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 29,026 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $122,489.72. Following the sale, the general counsel now directly owns 666,121 shares of the company’s stock, valued at $2,811,030.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $122,489.72. Following the sale, the general counsel now directly owns 666,121 shares of the company’s stock, valued at $2,811,030.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the sale, the chief financial officer now directly owns 1,383,677 shares in the company, valued at $5,839,116.94. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently made changes to their positions in the company. Amalgamated Bank increased its stake in Rocket Lab USA by 6.9% during the third quarter. Amalgamated Bank now owns 42,410 shares of the rocket manufacturer’s stock worth $186,000 after acquiring an additional 2,723 shares during the last quarter. Swiss National Bank increased its stake in Rocket Lab USA by 1.2% during the third quarter. Swiss National Bank now owns 526,100 shares of the rocket manufacturer’s stock worth $2,304,000 after acquiring an additional 6,100 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in Rocket Lab USA by 211.2% during the third quarter. Atria Wealth Solutions Inc. now owns 45,900 shares of the rocket manufacturer’s stock worth $201,000 after acquiring an additional 31,150 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Rocket Lab USA by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,057,607 shares of the rocket manufacturer’s stock worth $9,012,000 after acquiring an additional 269,388 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Rocket Lab USA by 14.8% during the third quarter. Deutsche Bank AG now owns 135,146 shares of the rocket manufacturer’s stock worth $592,000 after acquiring an additional 17,374 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Stock Performance

RKLB stock opened at $4.91 on Thursday. The stock has a market capitalization of $2.42 billion, a PE ratio of -13.27 and a beta of 1.23. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $8.05. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86. The stock’s 50 day simple moving average is $4.14 and its 200 day simple moving average is $4.46.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $94.98 million. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The firm’s quarterly revenue was up 69.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, research analysts forecast that Rocket Lab USA will post -0.41 earnings per share for the current fiscal year.

About Rocket Lab USA

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.