Rocket Lab USA (NASDAQ:RKLB) Trading Up 3.4%

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares shot up 3.4% on Thursday . The stock traded as high as $6.36 and last traded at $6.30. 2,476,788 shares were traded during mid-day trading, a decline of 73% from the average session volume of 9,041,925 shares. The stock had previously closed at $6.09.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price objective for the company. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Citigroup raised their price target on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. BTIG Research started coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating for the company. Finally, Roth Mkm reissued a “buy” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus target price of $6.75.

Rocket Lab USA Price Performance

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 business’s 50-day simple moving average is $5.37 and its 200-day simple moving average is $4.62. The stock has a market cap of $3.12 billion, a PE ratio of -17.03 and a beta of 1.25.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same quarter in the prior year, the company posted ($0.10) EPS. Rocket Lab USA’s quarterly revenue was up 71.2% compared to the same quarter last year. On average, research analysts expect that Rocket Lab USA, Inc. will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the firm’s 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 sale, the chief financial officer now directly owns 1,321,165 shares in the company, valued at $9,195,308.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Adam C. Spice sold 62,512 shares of the business’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 $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 owns 42,353 shares in the company, valued at approximately $292,235.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently bought and sold shares of RKLB. Spire Wealth Management boosted its stake in shares of Rocket Lab USA by 257.1% in the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after acquiring an additional 7,200 shares during the period. Advisors Asset Management Inc. lifted its holdings in Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after purchasing an additional 4,032 shares in the last quarter. International Assets Investment Management LLC bought a new position in Rocket Lab USA in the 2nd quarter worth approximately $46,000. Baxter Bros Inc. bought a new position in Rocket Lab USA in the 2nd quarter worth approximately $48,000. Finally, 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 valued at $58,000 after buying an additional 2,538 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

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.