Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Consensus Rating of "Moderate Buy" by Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.50.

Several research firms have recently weighed in on RKLB. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group increased their price target on Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research report on Monday. KeyCorp cut their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley increased their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th.

Rocket Lab USA Stock Up 9.4%

Shares of NASDAQ RKLB traded up $2.05 during trading hours on Friday, hitting $23.88. The stock had a trading volume of 17,141,935 shares, compared to its average volume of 17,676,645. The company has a market capitalization of $10.83 billion, a P/E ratio of -64.65 and a beta of 2.04. The firm's 50-day moving average price is $19.77 and its two-hundred day moving average price is $22.20. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA has a 52 week low of $4.15 and a 52 week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings data 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 USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. Analysts anticipate that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares of the company's stock, valued at $28,253,644.92. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently made changes to their positions in RKLB. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA during the 4th quarter valued at $26,000. Versant Capital Management Inc lifted its holdings in shares of Rocket Lab USA by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after acquiring an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Rocket Lab USA in the 1st quarter valued at $29,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Rocket Lab USA by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after purchasing an additional 1,226 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

About Rocket Lab USA

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.