Rocket Lab USA (NASDAQ:RKLB) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Rocket Lab USA (NASDAQ:RKLB) announced its quarterly earnings data on Monday. The rocket manufacturer reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02, Briefing.com reports. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The business had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. During the same period in the prior year, the firm posted ($0.10) EPS. The company’s revenue was up 69.0% on a year-over-year basis. Rocket Lab USA updated its Q2 2024 guidance to EPS.

Rocket Lab USA Stock Up 2.9 %

RKLB stock traded up $0.12 during trading on Thursday, reaching $4.22. The stock had a trading volume of 3,354,154 shares, compared to its average volume of 8,296,509. The company has a current ratio of 2.13, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $3.98 and a 200 day moving average price of $4.44. The company has a market capitalization of $2.06 billion, a P/E ratio of -10.79 and a beta of 1.18. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $8.05.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RKLB shares. Citigroup decreased their price target on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a report on Tuesday. KeyCorp started coverage on Rocket Lab USA in a report on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.39.

Insider Activity

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $133,424.50. Following the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Arjun Kampani sold 31,394 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $133,424.50. Following the completion of the sale, the general counsel now directly owns 695,147 shares of the company’s stock, valued at $2,954,374.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adam C. Spice sold 67,160 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the transaction, the chief financial officer now directly owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The disclosure for this sale can be found here. Insiders own 13.70% 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.