Rocket Lab USA (NASDAQ:RKLB) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Rocket Lab USA (NASDAQ:RKLB) in a report released on Tuesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $4.50 target price on the rocket manufacturer’s stock.

Several other research analysts have also recently issued reports on RKLB. Wells Fargo & Company reduced their price objective on Rocket Lab USA from $5.00 to $4.25 and set an equal weight rating for the company in a research note on Thursday, April 4th. Cantor Fitzgerald reissued an overweight rating and set a $6.00 price target on shares of Rocket Lab USA in a research report on Tuesday, May 28th. Finally, Citigroup decreased their price objective on shares of Rocket Lab USA from $6.00 to $5.45 and set a buy rating for the company in a research note on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $7.03.

Rocket Lab USA Stock Down 1.9 %

RKLB stock opened at $4.55 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 3.12 and a debt-to-equity ratio of 0.86. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $8.05. The stock has a market capitalization of $2.24 billion, a PE ratio of -12.30 and a beta of 1.23. The firm has a 50 day moving average of $4.07 and a 200 day moving average of $4.45.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The business had revenue of $92.80 million during the quarter, compared to the consensus estimate of $94.98 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The business’s revenue for the quarter was up 69.0% compared to the same quarter last year. Sell-side analysts forecast that Rocket Lab USA will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, CFO Adam C. Spice sold 63,529 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $268,092.38. Following the sale, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at approximately $5,839,116.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Arjun Kampani sold 29,026 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $122,489.72. Following the sale, the general counsel now directly owns 666,121 shares in the company, valued at approximately $2,811,030.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the transaction, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at approximately $5,839,116.94. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares during the period. American Century Companies Inc. increased its holdings in Rocket Lab USA by 12.0% in the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock worth $16,213,000 after acquiring an additional 396,501 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Rocket Lab USA by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the rocket manufacturer’s stock worth $11,513,000 after acquiring an additional 24,232 shares during the period. Nikko Asset Management Americas Inc. raised its position in Rocket Lab USA by 15.7% during the first quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,917,000 after acquiring an additional 229,512 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Rocket Lab USA by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock valued at $6,950,000 after purchasing an additional 229,512 shares in the last quarter. 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.