Rocket Lab USA (NASDAQ:RKLB) Shares Up 6.4% – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 6.4% during mid-day trading on Wednesday . The company traded as high as $10.60 and last traded at $10.58. Approximately 6,628,665 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 9,733,639 shares. The stock had previously closed at $9.94.

Analyst Ratings Changes

A number of analysts have issued reports on RKLB shares. BTIG Research began coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They issued a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Monday, September 30th. KeyCorp upped their price target on shares of Rocket Lab USA from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Citigroup upped their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.75.

Rocket Lab USA Stock Performance

The stock’s 50-day moving average is $7.58 and its 200-day moving average is $5.54. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -30.40 and a beta of 1.32. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm’s quarterly revenue was up 71.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) EPS. On average, analysts predict that Rocket Lab USA, Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’s 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 completion of the transaction, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the company’s 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 $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock worth $906,059 in the last three months. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently modified their holdings of RKLB. Advisors Asset Management Inc. boosted 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 valued at $44,000 after purchasing an additional 4,032 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA in the 2nd quarter valued at $46,000. Baxter Bros Inc. bought a new stake in shares of Rocket Lab USA in the 2nd quarter valued at $48,000. Amalgamated Bank boosted its stake in shares of Rocket Lab USA by 26.7% in the 2nd 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 during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Rocket Lab USA in the 2nd quarter valued at $67,000. 71.78% of the stock is owned by institutional investors.

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.