Rocket Lab USA (NASDAQ:RKLB) Earns Buy Rating from Needham & Company LLC

Rocket Lab USA (NASDAQ:RKLB - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $28.00 price objective on the rocket manufacturer's stock. Needham & Company LLC's price objective points to a potential upside of 31.70% from the stock's current price.

Several other research firms have also issued reports on RKLB. Citigroup dropped their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research report on Monday. Wells Fargo & Company reduced their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Finally, Morgan Stanley upped their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.50.

Rocket Lab USA Stock Up 3.7%

RKLB opened at $21.26 on Tuesday. Rocket Lab USA has a fifty-two week low of $4.15 and a fifty-two week high of $33.34. The company has a market capitalization of $9.64 billion, a P/E ratio of -57.46 and a beta of 2.04. The firm's fifty day moving average price is $19.71 and its two-hundred day moving average price is $22.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) earnings per share. On average, analysts anticipate that Rocket Lab USA will post -0.38 EPS for the current year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RKLB. Vanguard Group Inc. grew its holdings in Rocket Lab USA 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 acquiring an additional 3,833,969 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Rocket Lab USA by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock valued at $211,084,000 after purchasing an additional 32,658 shares in the last quarter. Invesco Ltd. increased its holdings in Rocket Lab USA by 56.1% during the first quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer's stock valued at $66,840,000 after buying an additional 1,343,518 shares during the period. FMR LLC raised its stake in Rocket Lab USA by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after buying an additional 3,684,195 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Rocket Lab USA by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock worth $82,207,000 after buying an additional 281,339 shares during the period. 71.78% of the stock is currently owned by hedge funds and other 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.

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