Analysts Set Rocket Lab USA, Inc. (NASDAQ:RKLB) PT at $6.75

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have earned a consensus rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $6.89.

Several equities research analysts have recently commented on RKLB shares. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $8.00 to $6.00 in a report on Monday, July 15th. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research note on Monday, September 30th. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JMP Securities started coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock.

Rocket Lab USA Trading Down 0.1 %

NASDAQ:RKLB opened at $11.18 on Wednesday. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $12.09. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of -30.22 and a beta of 1.32. The firm has a fifty day simple moving average of $8.24 and a two-hundred day simple moving average of $5.86.

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

Insider Activity

In related news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now directly owns 42,353 shares in the company, valued at approximately $292,235.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. This represents 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 worth $906,059 over the last quarter. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of large investors have recently added to or reduced their stakes in RKLB. Vanguard Group Inc. grew its position in shares of Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after acquiring an additional 2,448,789 shares during the period. Ieq Capital LLC bought a new position in Rocket Lab USA during the second quarter valued at $5,469,000. Tocqueville Asset Management L.P. increased its position in Rocket Lab USA by 217.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock worth $5,277,000 after buying an additional 879,160 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Rocket Lab USA by 25.6% in the second 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 period. Finally, ARK Investment Management LLC lifted its position in shares of Rocket Lab USA by 6.6% during 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. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.