Rocket Lab USA (NASDAQ:RKLB) Receives New Coverage from Analysts at JMP Securities

Equities research analysts at JMP Securities initiated coverage on shares of Rocket Lab USA (NASDAQ:RKLB) in a research note issued to investors on Thursday, Benzinga reports. The brokerage set a “market perform” rating on the rocket manufacturer’s stock.

Several other research analysts have also recently weighed in on RKLB. Citigroup boosted their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Monday. The Goldman Sachs Group assumed coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price target for the company. Roth Mkm restated a “buy” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Finally, Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.86.

Rocket Lab USA Trading Up 8.6 %

Rocket Lab USA stock opened at $6.68 on Thursday. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The business’s fifty day simple moving average is $5.66 and its two-hundred day simple moving average is $4.72. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $7.36. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -18.05 and a beta of 1.27.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $105.47 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was up 71.2% compared to the same quarter last year. As a group, equities analysts predict that Rocket Lab USA will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,563 shares of the company’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 $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following 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 SEC, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction that occurred 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 sale, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock valued at $906,059 over the last 90 days. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Rocket Lab USA during the second quarter valued at approximately $46,000. Spire Wealth Management increased its holdings in Rocket Lab USA by 257.1% during the 1st quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after purchasing an additional 7,200 shares during the period. Baxter Bros Inc. purchased a new position in Rocket Lab USA during the 2nd quarter worth $48,000. Advisors Asset Management Inc. increased its holdings in Rocket Lab USA by 59.4% during 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 during the period. Finally, Brown Advisory Inc. purchased a new position in Rocket Lab USA during the 4th quarter worth $61,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.