Rocket Lab Corporation (NASDAQ:RKLB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Rocket Lab Corporation (NASDAQ:RKLB) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $51.75.

RKLB has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on shares of Rocket Lab from $20.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Monday, October 13th. Roth Capital restated a “buy” rating on shares of Rocket Lab in a report on Friday, August 29th. Baird R W upgraded Rocket Lab to a “strong-buy” rating in a report on Thursday, October 16th. Cantor Fitzgerald lifted their target price on Rocket Lab from $35.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research note on Wednesday, October 8th.

Rocket Lab Stock Performance

Shares of RKLB opened at $51.64 on Friday. The firm has a market cap of $24.99 billion, a P/E ratio of -114.76 and a beta of 2.16. Rocket Lab has a twelve month low of $12.90 and a twelve month high of $73.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.67. The firm’s 50 day moving average price is $55.63 and its two-hundred day moving average price is $41.95.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $144.50 million for the quarter, compared to the consensus estimate of $135.42 million. Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The firm’s revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) EPS. On average, analysts forecast that Rocket Lab will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Matthew Ocko sold 1,873,097 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $48.20, for a total value of $90,283,275.40. Following the sale, the director owned 541,526 shares of the company’s stock, valued at $26,101,553.20. The trade was a 77.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Frank Klein sold 4,286 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $47.72, for a total transaction of $204,527.92. Following the transaction, the insider owned 1,316,005 shares of the company’s stock, valued at $62,799,758.60. The trade was a 0.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,406,361 shares of company stock valued at $267,483,973 over the last ninety days. Insiders own 11.90% of the company’s stock.

Institutional Trading of Rocket Lab

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aspiring Ventures LLC acquired a new position in Rocket Lab during the third quarter valued at approximately $211,000. GSA Capital Partners LLP raised its stake in shares of Rocket Lab by 16.2% during the 3rd quarter. GSA Capital Partners LLP now owns 7,264 shares of the rocket manufacturer’s stock worth $348,000 after purchasing an additional 1,012 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Rocket Lab in the 3rd quarter valued at approximately $224,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Rocket Lab in the third quarter valued at $3,945,000. Finally, Vanguard Group Inc. grew its stake in shares of Rocket Lab by 5.4% in the third quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock valued at $2,003,104,000 after buying an additional 2,127,565 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

About Rocket Lab

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.