Rocket Lab USA (RKLB) – Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Rocket Lab USA (NASDAQ: RKLB) recently:

• 10/10/2024 – Rocket Lab USA had its price target raised by analysts at The Goldman Sachs Group, Inc. from $4.50 to $5.00. They now have a “neutral” rating on the stock.
• 9/30/2024 – Rocket Lab USA had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $7.00 price target on the stock.
• 9/27/2024 – Rocket Lab USA had its price target raised by analysts at KeyCorp from $8.00 to $11.00. They now have an “overweight” rating on the stock.
• 9/23/2024 – Rocket Lab USA had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $7.00 price target on the stock.
• 9/12/2024 – Rocket Lab USA is now covered by analysts at JMP Securities. They set a “market perform” rating on the stock.
• 9/9/2024 – Rocket Lab USA had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $7.00 price target on the stock.
• 9/3/2024 – Rocket Lab USA had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $7.00 price target on the stock.
• 8/14/2024 – Rocket Lab USA had its price target raised by analysts at Citigroup Inc. from $5.45 to $7.00. They now have a “buy” rating on the stock.

Rocket Lab USA Trading Up 3.3 %

NASDAQ RKLB traded up $0.31 during trading on Friday, hitting $9.70. The stock had a trading volume of 8,271,039 shares, compared to its average volume of 9,687,275. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of -26.22 and a beta of 1.32. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $10.29. The stock has a 50 day simple moving average of $7.02 and a 200 day simple moving average of $5.33.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $106.25 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 71.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) earnings per share. Sell-side analysts predict that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Insider Activity

In other news, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Arjun Kampani sold 28,563 shares of the business’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 completion of the transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,521 shares of company stock valued at $906,059. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its holdings in Rocket Lab USA by 59.4% in the first 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 last quarter. International Assets Investment Management LLC purchased a new position in Rocket Lab USA in the second quarter worth $46,000. Baxter Bros Inc. purchased a new position in Rocket Lab USA in the second quarter worth $48,000. Amalgamated Bank grew its holdings in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in Rocket Lab USA in the second quarter worth $67,000. Institutional investors own 71.78% of the company’s stock.

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.