Rocket Lab USA (NASDAQ:RKLB) Trading 5.2% Higher – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was up 5.2% during mid-day trading on Friday . The company traded as high as $11.42 and last traded at $11.26. Approximately 3,972,486 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 9,873,209 shares. The stock had previously closed at $10.70.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RKLB shares. JMP Securities started coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 30th. KeyCorp raised their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup raised their price objective on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley lowered shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $8.00 to $6.00 in a report on Monday, July 15th. Five research 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 stock has an average rating of “Hold” and a consensus price target of $6.89.

Rocket Lab USA Stock Up 6.7 %

The business’s fifty day simple moving average is $8.66 and its 200 day simple moving average is $6.12. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -32.63 and a beta of 1.29. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data 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 business had revenue of $106.25 million for 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 firm’s revenue was up 71.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. Equities analysts forecast that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In related 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 value of $435,083.52. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 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 directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the sale, the director now directly owns 42,353 shares in the company, valued at $292,235.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of RKLB. Vanguard Group Inc. lifted its position in shares of 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 last quarter. Ieq Capital LLC acquired a new position in shares of Rocket Lab USA in the second quarter valued at $5,469,000. Tocqueville Asset Management L.P. raised its position in shares of Rocket Lab USA by 217.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock valued at $5,277,000 after purchasing an additional 879,160 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after buying an additional 432,501 shares during the last quarter. Finally, ARK Investment Management LLC boosted its holdings in shares of Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after buying an additional 391,778 shares during the period. 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.