Rocket Lab USA (NASDAQ:RKLB) Hits New 12-Month High – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) reached a new 52-week high on Wednesday . The company traded as high as $10.52 and last traded at $10.26, with a volume of 3712581 shares traded. The stock had previously closed at $9.94.

Analysts Set New Price Targets

Several brokerages recently issued reports on RKLB. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. KeyCorp raised their price target on Rocket Lab USA from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Monday, September 30th. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Citigroup lifted their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab USA currently has an average rating of “Hold” and a consensus target price of $6.75.

Rocket Lab USA Trading Up 6.4 %

The business has a 50-day moving average price of $7.33 and a 200-day moving average price of $5.47. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $5.21 billion, a P/E ratio of -28.59 and a beta of 1.32.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping 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 firm had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The company’s revenue was up 71.2% on a year-over-year basis. Analysts anticipate that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the firm’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 $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. 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 available at the SEC website. In related news, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,521 shares of company stock worth $906,059. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares during the period. ARK Investment Management LLC raised its position in shares of Rocket Lab USA by 6.6% during the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after purchasing an additional 391,778 shares during the period. American Century Companies Inc. raised its position in shares of Rocket Lab USA by 11.1% during the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Rocket Lab USA by 25.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after purchasing an additional 432,501 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its position in shares of Rocket Lab USA by 15.7% during the first quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,917,000 after purchasing an additional 229,512 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.