Rocket Lab Corporation (NASDAQ:RKLB) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve analysts that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $28.10.

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald upped their price target on Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Wells Fargo & Company reduced their price objective on Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Roth Capital upped their price objective on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group upped their price objective on Rocket Lab from $14.35 to $16.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Finally, Needham & Company LLC upped their price objective on Rocket Lab from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th.

Rocket Lab Trading Down 2.1%

Shares of Rocket Lab stock opened at $35.38 on Monday. The stock has a fifty day simple moving average of $25.77 and a 200 day simple moving average of $24.26. Rocket Lab has a 12-month low of $4.20 and a 12-month high of $37.66. The company has a market capitalization of $16.05 billion, a P/E ratio of -88.45 and a beta of 2.08. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. The company had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. During the same quarter last year, the company posted ($0.09) EPS. The company's quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Rocket Lab will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab

In other news, Director Merline Saintil sold 6,353 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total transaction of $212,063.14. Following the completion of the transaction, the director now owns 419,569 shares in the company, valued at approximately $14,005,213.22. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank Klein sold 1,818 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $26.51, for a total value of $48,195.18. Following the sale, the insider now directly owns 1,368,372 shares in the company, valued at $36,275,541.72. This trade represents a 0.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,130,995 shares of company stock worth $29,686,039. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Rocket Lab by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock worth $715,728,000 after purchasing an additional 3,833,969 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Rocket Lab by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock worth $211,084,000 after purchasing an additional 32,658 shares in the last quarter. Invesco Ltd. lifted its holdings in Rocket Lab by 56.1% during the 1st quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer's stock worth $66,840,000 after purchasing an additional 1,343,518 shares in the last quarter. FMR LLC lifted its holdings in Rocket Lab by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after purchasing an additional 3,684,195 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Rocket Lab by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock worth $82,207,000 after purchasing an additional 281,339 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

About Rocket Lab

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.

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