Analysts Set Rocket Lab USA, Inc. (NASDAQ:RKLB) Price Target at $6.58

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $6.58.

Several equities research analysts have issued reports on the company. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Citigroup dropped their price objective on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price objective on shares of Rocket Lab USA in a report on Monday, July 22nd. The Goldman Sachs Group assumed coverage on Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective on the stock. Finally, BTIG Research assumed coverage on Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating on the stock.

Insider Buying and Selling at Rocket Lab USA

In other news, 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $122,489.72. Following the completion of the transaction, the general counsel now owns 666,121 shares in the company, valued at approximately $2,811,030.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 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. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently made changes to their positions in RKLB. International Assets Investment Management LLC acquired a new stake in shares of Rocket Lab USA during the second quarter worth $46,000. Spire Wealth Management raised its stake in Rocket Lab USA by 257.1% in the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock valued at $41,000 after buying an additional 7,200 shares during the period. Baxter Bros Inc. bought a new stake in Rocket Lab USA in the second quarter valued at approximately $48,000. Advisors Asset Management Inc. raised its stake in Rocket Lab USA by 59.4% in 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 during the period. Finally, Brown Advisory Inc. acquired a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $61,000. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

Rocket Lab USA stock opened at $5.23 on Friday. The stock’s 50 day moving average price is $4.95 and its 200 day moving average price is $4.46. The firm has a market capitalization of $2.58 billion, a PE ratio of -14.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.69 and a current ratio of 3.12. Rocket Lab USA has a one year low of $3.47 and a one year high of $6.59.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 32.78% and a negative net margin of 54.17%. The firm had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. During the same period in the previous year, the company posted ($0.10) EPS. Rocket Lab USA’s revenue for the quarter was up 71.2% on a year-over-year basis. As a group, sell-side analysts expect that Rocket Lab USA will post -0.41 EPS for the current fiscal year.

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.