Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $23.06 Consensus Target Price from Brokerages

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $23.06.

Several equities analysts have recently commented on RKLB shares. Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Wells Fargo & Company lowered their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. KeyCorp reduced their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Citigroup decreased their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $18.62 on Friday. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of -50.32 and a beta of 2.06. The business’s 50 day moving average is $23.71 and its two-hundred day moving average is $19.56.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Analysts forecast that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. The trade was a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its position in Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after acquiring an additional 334 shares during the period. Wellington Shields & Co. LLC lifted its holdings in Rocket Lab USA by 0.5% in the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock worth $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC grew its position in Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after buying an additional 653 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Rocket Lab USA by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock valued at $554,000 after buying an additional 696 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Rocket Lab USA by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after buying an additional 746 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.