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

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.72.

Several equities analysts have recently issued reports on the company. KeyCorp decreased their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Citigroup dropped their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Morgan Stanley boosted their price target on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Stifel Nicolaus upped their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th.

Insider Activity

In other news, insider Frank Klein sold 44,553 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently bought and sold shares of the stock. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab USA during the 4th quarter worth $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA in the 4th quarter worth approximately $26,000. Versant Capital Management Inc boosted its stake in shares of Rocket Lab USA by 118.1% in the first 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 acquired a new stake in shares of Rocket Lab USA during the first quarter valued at about $29,000. Finally, Farther Finance Advisors LLC grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $19.04 on Wednesday. Rocket Lab USA has a one year low of $3.56 and a one year high of $33.34. The firm’s 50 day moving average price is $19.95 and its 200-day moving average price is $20.99. The firm has a market cap of $8.64 billion, a P/E ratio of -51.46 and a beta of 2.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB) last posted 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). The business had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. As a group, equities research analysts predict that Rocket Lab USA will post -0.38 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.