Roth Capital Issues Positive Forecast for Rocket Lab USA (NASDAQ:RKLB) Stock Price

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its price objective hoisted by Roth Capital from $25.00 to $35.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the rocket manufacturer's stock.

A number of other brokerages also recently issued reports on RKLB. 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. Citigroup dropped their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Needham & Company LLC boosted their price target on shares of Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.18.

Rocket Lab USA Trading Down 5.5%

Shares of RKLB traded down $1.58 during mid-day trading on Wednesday, reaching $27.35. The stock had a trading volume of 16,245,465 shares, compared to its average volume of 16,307,853. Rocket Lab USA has a 52-week low of $4.17 and a 52-week high of $33.34. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of -73.92 and a beta of 2.04. The business's fifty day moving average is $21.60 and its 200 day moving average is $23.29. 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 posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, sell-side analysts predict that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the stock in a transaction on 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 in the company, valued at approximately $28,253,644.92. This trade represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds have recently bought and sold shares of RKLB. Chicago Partners Investment Group LLC grew its position in shares of Rocket Lab USA by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after buying an additional 334 shares in the last quarter. Wellington Shields & Co. LLC grew its holdings in Rocket Lab USA by 0.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock worth $1,898,000 after acquiring an additional 383 shares in the last quarter. Allworth Financial LP increased its position in shares of Rocket Lab USA by 4.0% in the 1st quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer's stock valued at $213,000 after purchasing an additional 458 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Rocket Lab USA by 1.4% in the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock valued at $627,000 after purchasing an additional 500 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

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.