Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $22.28 Consensus Target Price from Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given an average rating of “Moderate Buy” by the twelve research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $21.50.

A number of research analysts have recently weighed in on RKLB shares. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Stifel Nicolaus raised their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. KeyCorp dropped their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday. The Goldman Sachs Group raised their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Bank of America raised their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

Rocket Lab USA Stock Down 8.9 %

Shares of RKLB stock opened at $18.66 on Tuesday. The stock’s 50-day simple moving average is $26.57 and its 200-day simple moving average is $18.09. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a market capitalization of $9.33 billion, a PE ratio of -50.43 and a beta of 1.99. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm 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%. Equities analysts expect that Rocket Lab USA will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at $25,000. Sandy Spring Bank acquired a new position in shares of Rocket Lab USA during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the 4th quarter worth about $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the 4th quarter worth about $48,000. Finally, NewEdge Advisors LLC boosted its position in shares of Rocket Lab USA by 1,000.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after purchasing an additional 1,750 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

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.