Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Average Rating of “Hold” by Brokerages

Rocket Lab USA, Inc. (NASDAQ:RKLB) has earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $6.89.

Several brokerages have recently issued reports on RKLB. Morgan Stanley lowered Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $8.00 to $6.00 in a research note on Monday, July 15th. Citigroup boosted their target price on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. KeyCorp increased their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Monday, September 30th. Finally, The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock worth $906,059 in the last ninety days. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC increased its position in shares of Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after buying an additional 2,503 shares during the period. Amalgamated Bank grew its holdings in 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 period. 180 Wealth Advisors LLC raised its position in shares of Rocket Lab USA by 7.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after acquiring an additional 2,807 shares in the last quarter. Lakeridge Wealth Management LLC raised its position in shares of Rocket Lab USA by 30.0% in the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Verus Capital Partners LLC lifted its stake in shares of Rocket Lab USA by 11.9% in the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after purchasing an additional 3,525 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Down 0.1 %

RKLB opened at $11.18 on Wednesday. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of -30.22 and a beta of 1.32. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $12.09. The company has a 50-day simple moving average of $8.24 and a 200 day simple moving average of $5.86.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The business’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) EPS. Analysts predict that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Rocket Lab USA Company Profile

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.