Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Consensus Rating of “Hold” by Brokerages

by · The Markets Daily

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report) have received an average rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.68.

Several research analysts have issued reports on the company. The Goldman Sachs Group began coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective for the company. Citigroup lifted their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. BTIG Research began coverage on shares of Rocket Lab USA in a research note on Wednesday, June 26th. They set a “neutral” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Rocket Lab USA in a report on Monday. Finally, KeyCorp boosted their target price on Rocket Lab USA from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, September 27th.

Check Out Our Latest Analysis on RKLB

Insider Activity

In related news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock valued at $906,059 over the last three months. 13.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the second quarter worth approximately $46,000. Baxter Bros Inc. acquired a new stake in Rocket Lab USA during the 2nd quarter worth $48,000. Advisors Asset Management Inc. raised its position in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after acquiring an additional 4,032 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Rocket Lab USA in the 2nd quarter worth $67,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $9.71 on Friday. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $10.29. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.82 billion, a P/E ratio of -26.24 and a beta of 1.27. The company’s 50-day simple moving average is $6.51 and its 200 day simple moving average is $5.11.

Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last issued its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. Rocket Lab USA’s quarterly revenue was up 71.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, research analysts forecast that Rocket Lab USA will post -0.39 earnings per share for the current fiscal year.

About Rocket Lab USA

(Get Free Report

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.

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