Rocket Lab USA (NASDAQ:RKLB) Trading 6% Higher

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 6% during mid-day trading on Friday . The company traded as high as $5.10 and last traded at $5.09. Approximately 5,732,444 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 8,094,362 shares. The stock had previously closed at $4.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a report on Tuesday, May 7th. Roth Mkm reiterated a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday, June 18th. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a research report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 price objective on shares of Rocket Lab USA in a report on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $6.65.

Rocket Lab USA Price Performance

The business’s 50 day moving average price is $4.18 and its 200-day moving average price is $4.46. The company has a quick ratio of 2.69, a current ratio of 3.12 and a debt-to-equity ratio of 0.86.

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

Insider Transactions at Rocket Lab USA

In other news, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $268,092.38. Following the completion of the sale, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $268,092.38. Following the sale, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 29,026 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the sale, the general counsel now owns 666,121 shares of the company’s stock, valued at $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares in the last quarter. American Century Companies Inc. raised its holdings in Rocket Lab USA by 12.0% during the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock worth $16,213,000 after purchasing an additional 396,501 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Lab USA by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the rocket manufacturer’s stock valued at $11,513,000 after buying an additional 24,232 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in Rocket Lab USA by 15.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock valued at $6,917,000 after buying an additional 229,512 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Rocket Lab USA by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,950,000 after acquiring an additional 229,512 shares in the last quarter. 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.