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

Rocket Lab USA, Inc. (NASDAQ:RKLB) has earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.65.

Several research firms have weighed in on RKLB. BTIG Research began coverage on shares of Rocket Lab USA in a report on Wednesday. They set a “neutral” rating for the company. Roth Mkm restated a “buy” rating and set a $7.00 target price on shares of Rocket Lab USA in a report on Tuesday, June 18th. Citigroup dropped their target price on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a report on Tuesday, May 7th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Rocket Lab USA in a report on Thursday, June 20th. Finally, The Goldman Sachs Group began coverage on shares of Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 target price for the company.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $4.76 on Thursday. The company has a 50-day simple moving average of $4.23 and a 200-day simple moving average of $4.47. The company has a quick ratio of 2.69, a current ratio of 3.12 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $2.35 billion, a PE ratio of -12.86 and a beta of 1.23. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $8.05.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds have recently modified their holdings of the stock. Bayesian Capital Management LP boosted its position in shares of Rocket Lab USA by 38.7% in the first quarter. Bayesian Capital Management LP now owns 20,800 shares of the rocket manufacturer’s stock worth $85,000 after acquiring an additional 5,800 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Rocket Lab USA by 153.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 380,965 shares of the rocket manufacturer’s stock worth $1,567,000 after acquiring an additional 230,931 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Rocket Lab USA during the first quarter valued at approximately $175,000. Advisors Asset Management Inc. lifted its position in Rocket Lab USA by 59.4% during the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

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.