Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $6.86.

RKLB has been the topic of several analyst reports. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Citigroup increased 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. BTIG Research initiated coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating on the stock. The Goldman Sachs Group initiated coverage on Rocket Lab USA in a research report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Monday.

Rocket Lab USA Price Performance

NASDAQ RKLB opened at $6.14 on Tuesday. 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 stock’s fifty day moving average price is $5.59 and its 200 day moving average price is $4.70. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $7.36. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -16.59 and a beta of 1.27.

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

Insider Transactions at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,437,403.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated 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 directly owns 1,321,165 shares in the company, valued at $9,195,308.40. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock valued at $906,059 in the last ninety days. 13.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spire Wealth Management lifted its stake in Rocket Lab USA by 257.1% in the 1st 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 in the last quarter. Advisors Asset Management Inc. raised its holdings 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 valued at $44,000 after acquiring an additional 4,032 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Rocket Lab USA in the 2nd quarter valued at about $46,000. Baxter Bros Inc. acquired a new stake in Rocket Lab USA in the 2nd quarter valued at about $48,000. Finally, Amalgamated Bank raised its holdings in 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 acquiring an additional 2,538 shares during the last quarter. 71.78% of the stock is 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.