Rocket Lab Corporation (NASDAQ:RKLB) Receives Consensus Rating of “Moderate Buy” from Analysts

Rocket Lab Corporation (NASDAQ:RKLB) has received a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $110.1765.

Several research analysts have recently commented on RKLB shares. Morgan Stanley reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, July 8th. Roth Capital increased their target price on shares of Rocket Lab from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Bank of America raised their price target on shares of Rocket Lab from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Citigroup restated an “outperform” rating on shares of Rocket Lab in a research note on Tuesday, June 30th. Finally, Wells Fargo & Company began coverage on Rocket Lab in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective on the stock.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab continues to report strong business momentum, including rapid revenue growth, a large backlog, and progress toward becoming an end-to-end space company. The company is also building out launch infrastructure and expanding its defense-related opportunity set, including potential upside from the Space Force’s NSSL launch program if Neutron succeeds. Article Title
• Positive Sentiment: Analysts have pointed to Rocket Lab’s recent acquisitions and growing position in the space industry as reasons for long-term optimism, with some still maintaining bullish views despite the selloff. Article Title
• Neutral Sentiment: Several articles are comparing Rocket Lab with peers like AST SpaceMobile and SpaceX, reinforcing that RKLB remains a high-profile name in a speculative sector, but not providing a major new company-specific catalyst. Article Title
• Negative Sentiment: Piper Sandler initiated coverage with a Neutral rating and an $83 price target, which disappointed some investors and added to pressure on the shares. Article Title
• Negative Sentiment: Investors are also reacting to concerns about dilution, a recent CEO share sale, and the stock’s stretched valuation after a huge run earlier in the year. Several commentaries now argue that space stocks, including Rocket Lab, may be too speculative at current levels. Article Title

Insider Activity at Rocket Lab

In related news, insider Marvin Bradford Clevenger sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $146.67, for a total transaction of $513,345.00. Following the sale, the insider directly owned 473,975 shares in the company, valued at approximately $69,517,913.25. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander R. Slusky sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $123.60, for a total transaction of $4,944,000.00. Following the completion of the sale, the director directly owned 334,675 shares in the company, valued at approximately $41,365,830. This trade represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,849,294 shares of company stock worth $362,816,208 over the last quarter. 8.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock valued at $3,308,033,000 after buying an additional 5,610,469 shares during the last quarter. Baillie Gifford & Co. raised its stake in Rocket Lab by 47.2% in the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock valued at $1,245,317,000 after buying an additional 5,725,536 shares in the last quarter. Capital World Investors lifted its holdings in Rocket Lab by 12.0% during the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after buying an additional 1,738,623 shares during the last quarter. State Street Corp boosted its position in shares of Rocket Lab by 1.0% during the 4th quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer’s stock worth $873,411,000 after acquiring an additional 120,652 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Rocket Lab by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer’s stock worth $626,605,000 after acquiring an additional 825,158 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab Price Performance

Rocket Lab stock opened at $67.35 on Friday. The company’s 50 day simple moving average is $108.73 and its 200-day simple moving average is $87.29. The company has a market capitalization of $38.98 billion, a price-to-earnings ratio of -210.47 and a beta of 2.54. Rocket Lab has a 1 year low of $37.57 and a 1 year high of $151.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.Rocket Lab’s revenue was up 63.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) EPS. As a group, equities research analysts expect that Rocket Lab will post -0.26 earnings per share for the current year.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.