Recent Investment Analysts’ Ratings Changes for Rocket Lab USA (RKLB)

Several analysts have recently updated their ratings and price targets for Rocket Lab USA (NASDAQ: RKLB):

• 6/26/2024 – Rocket Lab USA is now covered by analysts at BTIG Research. They set a “neutral” rating on the stock.
• 6/20/2024 – Rocket Lab USA had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $6.00 price target on the stock.
• 6/18/2024 – Rocket Lab USA had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $7.00 price target on the stock.
• 6/11/2024 – Rocket Lab USA is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $4.50 price target on the stock.
• 5/28/2024 – Rocket Lab USA had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $6.00 price target on the stock.
• 5/7/2024 – Rocket Lab USA had its price target lowered by analysts at Citigroup Inc. from $6.00 to $5.45. They now have a “buy” rating on the stock.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock opened at $4.76 on Thursday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -12.86 and a beta of 1.23. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $8.05. The firm has a fifty day simple moving average of $4.23 and a 200-day simple moving average of $4.47. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The company had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $94.98 million. During the same quarter in the prior year, the company posted ($0.10) EPS. The business’s revenue was up 69.0% on a year-over-year basis. On average, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the transaction, the general counsel now directly owns 666,121 shares in the company, valued at approximately $2,811,030.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the sale, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $122,489.72. Following the transaction, the general counsel now directly owns 666,121 shares in the company, valued at $2,811,030.62. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently made changes to their positions in RKLB. Charles Schwab Investment Management Inc. increased its position in shares of Rocket Lab USA by 15.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,057,607 shares of the rocket manufacturer’s stock valued at $9,012,000 after acquiring an additional 269,388 shares during the last quarter. Deutsche Bank AG increased its position in shares of Rocket Lab USA by 14.8% in the third quarter. Deutsche Bank AG now owns 135,146 shares of the rocket manufacturer’s stock valued at $592,000 after acquiring an additional 17,374 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of Rocket Lab USA by 216.7% in the third quarter. Kestra Advisory Services LLC now owns 126,180 shares of the rocket manufacturer’s stock valued at $553,000 after acquiring an additional 86,340 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Rocket Lab USA in the third quarter valued at about $44,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Rocket Lab USA in the third quarter valued at about $2,271,000. Institutional investors own 71.78% of the company’s stock.

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.