Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is 11.70.
Several equities research analysts recently issued reports on the company. Credit Suisse Group assumed coverage on Rocket Lab USA in a research note on Tuesday, October 11th. They set an “underperform” rating and a $3.00 price objective for the company. Cowen raised Rocket Lab USA from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $8.00 in a research note on Wednesday, August 31st. Stifel Nicolaus dropped their price objective on Rocket Lab USA from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 17th. Cowen raised Rocket Lab USA from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $8.00 in a research note on Wednesday, August 31st. Finally, Morgan Stanley dropped their price objective on Rocket Lab USA from $16.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, August 16th.
Insider Activity at Rocket Lab USA
In related news, CFO Adam C. Spice sold 41,508 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of 5.25, for a total transaction of 217,917.00. Following the completion of the sale, the chief financial officer now directly owns 1,796,016 shares in the company, valued at approximately 9,429,084. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Rocket Lab USA news, Director Michael D. Griffin sold 456,190 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of 5.62, for a total transaction of 2,563,787.80. Following the completion of the transaction, the director now owns 190,156 shares of the company’s stock, valued at approximately 1,068,676.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam C. Spice sold 41,508 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of 5.25, for a total value of 217,917.00. Following the transaction, the chief financial officer now directly owns 1,796,016 shares of the company’s stock, valued at approximately 9,429,084. The disclosure for this sale can be found here. Insiders sold 711,819 shares of company stock worth $3,981,840 in the last ninety days. 15.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its position in shares of Rocket Lab USA by 10.5% in the 1st quarter. Teacher Retirement System of Texas now owns 32,607 shares of the rocket manufacturer’s stock worth $262,000 after acquiring an additional 3,099 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Rocket Lab USA by 5.6% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 70,790 shares of the rocket manufacturer’s stock worth $268,000 after acquiring an additional 3,731 shares in the last quarter. 180 Wealth Advisors LLC raised its position in shares of Rocket Lab USA by 18.7% in the 3rd quarter. 180 Wealth Advisors LLC now owns 23,744 shares of the rocket manufacturer’s stock worth $97,000 after acquiring an additional 3,739 shares in the last quarter. Hamilton Lane Advisors LLC raised its position in shares of Rocket Lab USA by 5.8% in the 2nd quarter. Hamilton Lane Advisors LLC now owns 89,364 shares of the rocket manufacturer’s stock worth $339,000 after acquiring an additional 4,938 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Rocket Lab USA by 1.7% in the 1st quarter. Northern Trust Corp now owns 314,140 shares of the rocket manufacturer’s stock worth $2,529,000 after acquiring an additional 5,146 shares in the last quarter. Institutional investors own 65.04% of the company’s stock.
Rocket Lab USA Price Performance
Shares of NASDAQ RKLB opened at 4.21 on Friday. Rocket Lab USA has a fifty-two week low of 3.53 and a fifty-two week high of 16.97. The company has a current ratio of 4.90, a quick ratio of 4.31 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of 5.01 and a 200-day moving average of 5.27.
Rocket Lab USA (NASDAQ:RKLB – Get Rating) last announced its quarterly earnings results on Thursday, August 11th. The rocket manufacturer reported -0.08 earnings per share for the quarter, missing the consensus estimate of -0.06 by -0.02. The company had revenue of 55.47 million during the quarter, compared to analysts’ expectations of 53.19 million. Rocket Lab USA had a negative net margin of 115.48% and a negative return on equity of 16.31%. Sell-side analysts forecast that Rocket Lab USA will post -0.32 EPS for the current fiscal year.
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 engineering and 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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Rocket Lab USA, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rocket Lab USA wasn’t on the list.
While Rocket Lab USA currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Read More: Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Consensus Rating of “Moderate Buy” by Brokerages