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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $23.06.

Several equities research analysts recently issued reports on RKLB shares. KeyCorp cut their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group boosted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Wells Fargo & Company reduced their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th.

Rocket Lab USA Stock Up 2.2 %

Shares of RKLB opened at $18.94 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $8.59 billion, a P/E ratio of -51.19 and a beta of 2.06. The company’s 50-day moving average price is $24.20 and its 200 day moving average price is $19.09. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. On average, sell-side analysts forecast that Rocket Lab USA will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the transaction, the insider now owns 1,419,479 shares in the company, valued at $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in RKLB. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the 4th quarter valued at $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $40,000. Quarry LP acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth about $48,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after buying an additional 1,750 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other 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.