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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.46.

A number of research firms have commented on RKLB. Citigroup reiterated a “buy” rating and issued a $6.00 price objective on shares of Rocket Lab USA in a report on Monday, February 12th. Wells Fargo & Company cut 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 report on Thursday, April 4th. Finally, KeyCorp assumed coverage on shares of Rocket Lab USA in a report on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 target price for the company.

Rocket Lab USA Stock Down 1.1 %

RKLB stock opened at $3.76 on Wednesday. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -9.89 and a beta of 1.17. The company has a current ratio of 2.13, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $8.05. The firm has a 50-day moving average of $4.05 and a two-hundred day moving average of $4.46.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Tuesday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $59.99 million during the quarter, compared to analyst estimates of $62.90 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) EPS. As a group, analysts forecast that Rocket Lab USA will post -0.42 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the transaction, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at approximately $6,129,375.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the transaction, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at approximately $6,129,375.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. FNY Investment Advisers LLC purchased a new stake in shares of Rocket Lab USA during the 4th quarter worth $34,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth $40,000. Spire Wealth Management lifted its position in shares of Rocket Lab USA by 257.1% during the 1st quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after purchasing an additional 7,200 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth $44,000. Finally, CenterBook Partners LP purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth $44,000. 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.