Rocket Lab USA (NASDAQ:RKLB) Reaches New 52-Week High at $7.85

Rocket Lab USA, Inc. (NASDAQ:RKLB) reached a new 52-week high on Wednesday . The stock traded as high as $7.85 and last traded at $7.81, with a volume of 1329709 shares trading hands. The stock had previously closed at $7.59.

Analyst Ratings Changes

RKLB has been the topic of several research analyst reports. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $8.00 to $6.00 in a report on Monday, July 15th. Roth Mkm reissued a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday, June 18th. The Goldman Sachs Group initiated coverage on Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price target on the stock. BTIG Research initiated coverage on Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Monday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and an average target price of $6.86.

Rocket Lab USA Price Performance

The firm has a 50-day moving average of $6.04 and a 200-day moving average of $4.90. 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 has a market cap of $4.21 billion, a PE ratio of -21.78 and a beta of 1.27.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The business had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same period last year, the firm posted ($0.10) EPS. The company’s revenue was up 71.2% on a year-over-year basis. Research analysts predict that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

Insider Activity

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on 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 owns 1,321,165 shares in the company, valued at $9,195,308.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock worth $906,059 over the last 90 days. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RKLB. International Assets Investment Management LLC purchased a new position in shares of Rocket Lab USA during the 2nd quarter worth about $46,000. Baxter Bros Inc. bought a new position in shares of Rocket Lab USA during the second quarter valued at approximately $48,000. Advisors Asset Management Inc. raised its holdings in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after buying an additional 4,032 shares during the period. Brown Advisory Inc. bought a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $61,000. Finally, Amalgamated Bank lifted its stake in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 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.