Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $25.18 Consensus Target Price from Analysts

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.18.

RKLB has been the subject of several research reports. Roth Capital increased their price objective on shares of Rocket Lab USA from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Citigroup lowered their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Finally, KeyCorp reissued an “overweight” rating on shares of Rocket Lab USA in a research note on Tuesday, June 3rd.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $29.64 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a fifty day moving average price of $22.80 and a 200 day moving average price of $23.73. Rocket Lab USA has a fifty-two week low of $4.20 and a fifty-two week high of $33.34. The firm has a market cap of $13.44 billion, a price-to-earnings ratio of -80.11 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). 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 $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. During the same quarter in the prior year, the company posted ($0.09) EPS. Rocket Lab USA’s revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts expect that Rocket Lab USA will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Arjun Kampani sold 5,194 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $26.52, for a total value of $137,744.88. Following the transaction, the insider now owns 535,424 shares of the company’s stock, valued at $14,199,444.48. This trade represents a 0.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Frank Klein sold 1,818 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $26.51, for a total transaction of $48,195.18. Following the completion of the transaction, the insider now directly owns 1,368,372 shares in the company, valued at $36,275,541.72. This represents a 0.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,937 shares of company stock valued at $3,285,279 in the last 90 days. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA during the 4th quarter valued at about $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA during the 4th quarter valued at about $26,000. Versant Capital Management Inc increased its position in Rocket Lab USA by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB purchased a new position in Rocket Lab USA during the 1st quarter valued at about $29,000. Finally, Farther Finance Advisors LLC increased its position in Rocket Lab USA by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock valued at $35,000 after purchasing an additional 1,226 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.