Rocket Lab USA (NASDAQ:RKLB) Shares Up 3.4%

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 3.4% on Thursday . The company traded as high as $6.36 and last traded at $6.30. Approximately 2,476,788 shares were traded during trading, a decline of 73% from the average daily volume of 9,041,925 shares. The stock had previously closed at $6.09.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BTIG Research initiated coverage on shares of Rocket Lab USA in a research report on Wednesday, June 26th. They issued a “neutral” rating for the company. The Goldman Sachs Group initiated coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price objective on shares of Rocket Lab USA in a research report on Monday, July 22nd. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, Citigroup raised their price objective on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.75.

Rocket Lab USA Stock Up 3.1 %

The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The firm’s fifty day moving average is $5.37 and its 200 day moving average is $4.62. The stock has a market cap of $3.12 billion, a P/E ratio of -17.03 and a beta of 1.25.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The firm’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) EPS. As a group, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.41 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the sale, the director now owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the transaction, the general counsel now directly owns 637,558 shares in the company, valued at $4,437,403.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the sale, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock worth $906,059 in the last ninety days. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Spire Wealth Management raised its holdings in Rocket Lab USA by 257.1% during the 1st quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after buying an additional 7,200 shares during the period. Advisors Asset Management Inc. boosted its stake in Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after purchasing an additional 4,032 shares during the period. International Assets Investment Management LLC bought a new position in Rocket Lab USA during the 2nd quarter worth about $46,000. Baxter Bros Inc. acquired a new stake in shares of Rocket Lab USA in the 2nd quarter valued at about $48,000. Finally, Amalgamated Bank lifted its holdings in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares in the last quarter. Institutional investors and hedge funds 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.