Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.58.

RKLB has been the subject of several recent research reports. Roth Mkm reissued a “buy” rating and set a $7.00 target price on shares of Rocket Lab USA in a report on Tuesday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price objective on shares of Rocket Lab USA in a research note on Monday, July 15th. The Goldman Sachs Group assumed coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 target price on the stock. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, BTIG Research began coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They issued a “neutral” rating on the stock.

Rocket Lab USA Price Performance

Shares of RKLB stock opened at $5.20 on Monday. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $8.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69. The stock’s 50-day simple moving average is $4.68 and its 200-day simple moving average is $4.46.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share 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 company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.98 million. During the same quarter in the prior year, the company earned ($0.10) EPS. Rocket Lab USA’s quarterly revenue was up 69.0% on a year-over-year basis. On average, analysts forecast that Rocket Lab USA will post -0.41 EPS for the current year.

Insider Transactions at Rocket Lab USA

In related news, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction on Friday, May 24th. The shares were sold at an average price of $4.22, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 29,026 shares of the 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 $122,489.72. Following the completion of the transaction, the general counsel now owns 666,121 shares of the company’s stock, valued at $2,811,030.62. The sale 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 that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value 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. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Rocket Lab USA by 4.7% during the third quarter. Vanguard Group Inc. now owns 26,100,419 shares of the rocket manufacturer’s stock worth $114,320,000 after buying an additional 1,167,403 shares in the last quarter. Van ECK Associates Corp raised its holdings in Rocket Lab USA by 20.2% in the 4th quarter. Van ECK Associates Corp now owns 95,704 shares of the rocket manufacturer’s stock valued at $529,000 after acquiring an additional 16,115 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Rocket Lab USA by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock valued at $156,000 after acquiring an additional 5,838 shares during the last quarter. Graham Capital Management L.P. purchased a new position in Rocket Lab USA in the 3rd quarter worth approximately $221,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $116,000. 71.78% of the stock is owned by institutional investors and hedge funds.

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.