Rocket Lab (NASDAQ:RKLB) Trading 8.2% Higher – Still a Buy?

Rocket Lab Corporation (NASDAQ:RKLB)’s share price shot up 8.2% during mid-day trading on Friday . The stock traded as high as $139.76 and last traded at $135.76. 32,708,704 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 23,873,797 shares. The stock had previously closed at $125.45.

Trending Headlines about Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company assumed coverage on shares of Rocket Lab in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective for the company. Citizens Jmp raised their price objective on shares of Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. New Street Research assumed coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They set a “buy” rating and a $150.00 price target on the stock. Finally, Wall Street Zen raised shares of Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.19.

Rocket Lab Stock Performance

The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The company has a market cap of $78.57 billion, a PE ratio of -424.25 and a beta of 2.30. The business’s fifty day moving average is $83.57 and its 200-day moving average is $72.72.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $200.35 million for the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm’s revenue was up 63.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) earnings per share. As a group, research analysts predict that Rocket Lab Corporation will post -0.24 EPS for the current fiscal year.

Insider Activity at Rocket Lab

In other Rocket Lab news, SVP Arjun Kampani sold 23,711 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total transaction of $1,706,006.45. Following the sale, the senior vice president owned 397,988 shares in the company, valued at approximately $28,635,236.60. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander R. Slusky sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the sale, the director owned 434,675 shares in the company, valued at approximately $51,326,424. The trade was a 18.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 333,449 shares of company stock worth $28,295,233 in the last 90 days. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Wealth Management LLC raised its stake in Rocket Lab by 4.6% during the 1st quarter. Western Wealth Management LLC now owns 4,088 shares of the rocket manufacturer’s stock worth $263,000 after acquiring an additional 180 shares during the period. Janus Henderson Group PLC raised its position in shares of Rocket Lab by 8.5% during the first quarter. Janus Henderson Group PLC now owns 198,013 shares of the rocket manufacturer’s stock valued at $12,715,000 after buying an additional 15,558 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of Rocket Lab by 23.9% during the first quarter. Centaurus Financial Inc. now owns 5,891 shares of the rocket manufacturer’s stock valued at $378,000 after buying an additional 1,137 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Rocket Lab during the first quarter valued at approximately $3,691,000. Finally, Amundi raised its position in shares of Rocket Lab by 57.5% during the first quarter. Amundi now owns 1,784,109 shares of the rocket manufacturer’s stock valued at $114,575,000 after buying an additional 651,551 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.