Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report) was up 2.8% during mid-day trading on Monday . The company traded as high as $4.11 and last traded at $4.09. Approximately 6,012,004 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 9,307,988 shares. The stock had previously closed at $3.98.
Analyst Ratings Changes
A number of equities analysts have recently commented on RKLB shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price objective on shares of Rocket Lab USA in a research note on Friday, December 22nd. KeyCorp started coverage on Rocket Lab USA in a report on Wednesday, January 17th. They set an “overweight” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus price target of $7.84.
Rocket Lab USA Stock Up 1.8 %
The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.67. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -11.03 and a beta of 1.25. The firm’s 50-day simple moving average is $4.93 and its two-hundred day simple moving average is $5.16.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last issued its quarterly earnings results on Wednesday, November 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $67.66 million during the quarter, compared to analyst estimates of $67.56 million. Rocket Lab USA had a negative net margin of 71.62% and a negative return on equity of 26.98%. Rocket Lab USA’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share. On average, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.37 EPS for the current fiscal year.
Insiders Place Their Bets
In other Rocket Lab USA news, General Counsel Arjun Kampani sold 19,443 shares of Rocket Lab USA stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $4.46, for a total transaction of $86,715.78. Following the completion of the sale, the general counsel now owns 505,947 shares of the company’s stock, valued at approximately $2,256,523.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Arjun Kampani sold 19,443 shares of Rocket Lab USA stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $4.46, for a total transaction of $86,715.78. Following the transaction, the general counsel now directly owns 505,947 shares of the company’s stock, valued at $2,256,523.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Adam C. Spice sold 57,721 shares of Rocket Lab USA stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $4.46, for a total transaction of $257,435.66. Following the transaction, the chief financial officer now directly owns 1,509,366 shares in the company, valued at $6,731,772.36. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.
Institutional Investors Weigh In On Rocket Lab USA
Several institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in Rocket Lab USA by 10.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 19,266 shares of the rocket manufacturer’s stock valued at $116,000 after acquiring an additional 1,843 shares in the last quarter. Raymond James & Associates increased its stake in Rocket Lab USA by 10.3% in the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock valued at $121,000 after buying an additional 2,040 shares during the last quarter. Mackenzie Financial Corp increased its stake in Rocket Lab USA by 18.9% in the 2nd quarter. Mackenzie Financial Corp now owns 13,863 shares of the rocket manufacturer’s stock valued at $83,000 after buying an additional 2,200 shares during the last quarter. Cerity Partners LLC increased its stake in Rocket Lab USA by 14.5% in the 4th quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock valued at $97,000 after buying an additional 2,230 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Rocket Lab USA by 14.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,057 shares of the rocket manufacturer’s stock valued at $108,000 after buying an additional 2,266 shares during the last quarter. 54.19% of the stock is owned by institutional investors.
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.