Rocket Lab USA (NASDAQ:RKLB) Now Covered by JMP Securities

JMP Securities initiated coverage on shares of Rocket Lab USA (NASDAQ:RKLB) in a report released on Thursday morning, MarketBeat reports. The brokerage issued a market perform rating on the rocket manufacturer’s stock.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reiterated an overweight rating and issued a $7.00 target price on shares of Rocket Lab USA in a research note on Monday, September 9th. Morgan Stanley cut shares of Rocket Lab USA from an overweight rating to an equal weight rating and decreased their target price for the company from $8.00 to $6.00 in a research report on Monday, July 15th. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a report on Tuesday, June 11th. They issued a neutral rating and a $4.50 price target on the stock. Citigroup upped their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. Finally, Roth Mkm reissued a buy rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $6.86.

Rocket Lab USA Trading Up 8.7 %

Shares of NASDAQ RKLB opened at $7.46 on Thursday. The stock has a market capitalization of $3.68 billion, a P/E ratio of -20.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The business’s 50 day moving average is $5.76 and its two-hundred day moving average is $4.76. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $7.47.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The business’s revenue for the quarter was up 71.2% on a year-over-year basis. As a group, research analysts expect that Rocket Lab USA will post -0.4 EPS for the current year.

Insider Transactions at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction 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 completion of the transaction, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in Rocket Lab USA during the 2nd quarter valued at approximately $46,000. Spire Wealth Management raised its stake in shares of Rocket Lab USA by 257.1% during the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after purchasing an additional 7,200 shares during the last quarter. Baxter Bros Inc. acquired a new stake in shares of Rocket Lab USA during the second quarter worth $48,000. Advisors Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 4,032 shares during the period. Finally, Brown Advisory Inc. purchased a new stake in Rocket Lab USA in the 4th quarter valued at approximately $61,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.