Rocket Lab USA (NASDAQ:RKLB) Sets New 1-Year High – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.43 and last traded at $11.43, with a volume of 985711 shares traded. The stock had previously closed at $11.26.

Analyst Ratings Changes

Several brokerages recently commented on RKLB. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Monday, September 30th. KeyCorp boosted their target price on shares of Rocket Lab USA from $8.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Morgan Stanley cut shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Citigroup lifted their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.75.

Rocket Lab USA Stock Performance

The stock’s 50 day simple moving average is $7.81 and its two-hundred day simple moving average is $5.67. The company has a market capitalization of $5.58 billion, a P/E ratio of -32.17 and a beta of 1.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm 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%. Rocket Lab USA’s revenue was up 71.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, research analysts expect that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA 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 sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 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 value of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. This trade represents 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 over the last 90 days. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently modified their holdings of RKLB. Vanguard Group Inc. boosted its stake in Rocket Lab USA by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer’s stock worth $146,831,000 after acquiring an additional 451,370 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Rocket Lab USA by 35.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer’s stock valued at $154,000 after buying an additional 9,747 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Rocket Lab USA by 196.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 65,014 shares of the rocket manufacturer’s stock valued at $267,000 after buying an additional 43,095 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rocket Lab USA by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,950,000 after buying an additional 229,512 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Rocket Lab USA by 18.1% during the first quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock worth $156,000 after acquiring an additional 5,838 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.