Rocket Lab USA (NASDAQ:RKLB) Posts Earnings Results, Beats Expectations By $0.02 EPS

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) issued its quarterly earnings results on Monday. The rocket manufacturer reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02, Briefing.com reports. The company had revenue of $92.80 million during the quarter, compared to analysts' expectations of $94.98 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The business's quarterly revenue was up 69.0% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. Rocket Lab USA updated its Q2 2024 guidance to EPS.

Rocket Lab USA Stock Performance

NASDAQ:RKLB traded down $0.09 during mid-day trading on Tuesday, hitting $3.97. The stock had a trading volume of 17,269,423 shares, compared to its average volume of 8,343,313. The company's 50 day simple moving average is $3.99 and its 200 day simple moving average is $4.44. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -10.45 and a beta of 1.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 2.13. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $8.05.

Analyst Ratings Changes

RKLB has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of Rocket Lab USA from $6.00 to $5.45 and set a "buy" rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their target price on Rocket Lab USA from $5.00 to $4.25 and set an "equal weight" rating on the stock in a research report on Thursday, April 4th. Finally, KeyCorp initiated coverage on Rocket Lab USA in a report on Wednesday, January 17th. They set an "overweight" rating and a $8.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $7.39.

Insiders Place Their Bets

In related news, CFO Adam C. Spice sold 67,160 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the sale, the chief financial officer now owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the sale, the general counsel now directly owns 695,147 shares in the company, valued at $2,954,374.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam C. Spice sold 67,160 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the transaction, the chief financial officer now directly owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The disclosure for this sale can be found here. Company insiders own 13.70% of the company's stock.

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.