Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) PT at $7.46

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $7.39.

A number of brokerages recently weighed in on RKLB. Citigroup lowered their price objective on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a research report on Tuesday. KeyCorp started coverage on Rocket Lab USA in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price target on the stock. Finally, Wells Fargo & Company lowered their target price on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a report on Thursday, April 4th.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $3.97 on Wednesday. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $8.05. The business’s fifty day simple moving average is $3.99 and its two-hundred day simple moving average is $4.44. The company has a current ratio of 2.13, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -10.45 and a beta of 1.18.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $92.80 million during the quarter, compared to the consensus estimate of $94.98 million. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. Rocket Lab USA’s revenue for the quarter was up 69.0% on a year-over-year basis. During the same period last year, the company earned ($0.10) EPS. Research analysts anticipate that Rocket Lab USA will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the sale, the chief financial officer now owns 1,442,206 shares in the company, valued at $6,129,375.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $133,424.50. Following the completion of the sale, the general counsel now owns 695,147 shares in the company, valued at approximately $2,954,374.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam C. Spice sold 67,160 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the sale, the chief financial officer now directly owns 1,442,206 shares in the company, valued at $6,129,375.50. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates grew its holdings in Rocket Lab USA by 10.3% during the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock valued at $121,000 after buying an additional 2,040 shares in the last quarter. Cerity Partners LLC grew its stake in Rocket Lab USA by 14.5% during the fourth quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock valued at $97,000 after acquiring an additional 2,230 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Rocket Lab USA by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 30,274 shares of the rocket manufacturer’s stock valued at $133,000 after acquiring an additional 2,293 shares during the last quarter. Amalgamated Bank lifted its stake in Rocket Lab USA by 6.9% in the 3rd quarter. Amalgamated Bank now owns 42,410 shares of the rocket manufacturer’s stock worth $186,000 after purchasing an additional 2,723 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Rocket Lab USA by 2.5% during the 4th quarter. New York State Common Retirement Fund now owns 114,781 shares of the rocket manufacturer’s stock valued at $635,000 after purchasing an additional 2,845 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

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.