Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Average Rating of “Hold” by Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has earned a consensus rating of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.75.

Several equities analysts have weighed in on the company. KeyCorp lifted their price objective on Rocket Lab USA from $8.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, September 27th. BTIG Research assumed coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a report on Monday, September 30th. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $8.00 to $6.00 in a report on Monday, July 15th. Finally, The Goldman Sachs Group boosted their price target on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares of the company’s stock, valued at $292,235.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares of the company’s stock, valued at $292,235.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock valued at $906,059 in the last 90 days. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Rocket Lab USA by 6.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after buying an additional 391,778 shares during the last quarter. American Century Companies Inc. grew its position in shares of Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after buying an additional 432,501 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in shares of Rocket Lab USA by 15.7% in the 1st 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 last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

RKLB opened at $11.16 on Wednesday. The business has a fifty day simple moving average of $7.93 and a 200 day simple moving average of $5.72. The company has a market capitalization of $5.54 billion, a PE ratio of -31.88 and a beta of 1.32. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $11.52. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The firm’s quarterly revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) EPS. Research analysts expect that Rocket Lab USA will post -0.39 EPS for the current 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.