Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 3.8% – Here’s Why

Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 3.8% during mid-day trading on Friday . The stock traded as high as $9.64 and last traded at $9.60. 2,371,494 shares were traded during mid-day trading, a decline of 75% from the average session volume of 9,630,490 shares. The stock had previously closed at $9.25.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Roth Mkm reiterated a “buy” rating and set a $7.00 price objective on shares of Rocket Lab USA in a report on Tuesday, June 18th. The Goldman Sachs Group assumed coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research note on Monday, September 30th. Morgan Stanley lowered shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, Citigroup lifted their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Hold” and a consensus target price of $6.68.

Rocket Lab USA Stock Up 5.9 %

The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The business’s 50-day simple moving average is $6.68 and its 200-day simple moving average is $5.19. The company has a market capitalization of $4.87 billion, a PE ratio of -26.49 and a beta of 1.32.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. During the same quarter last year, the company posted ($0.10) earnings per share. The firm’s revenue was up 71.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.39 EPS for the current fiscal year.

Insider Activity

In related news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock valued at $906,059 in the last quarter. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Large investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $852,000. Vanguard Group Inc. increased its holdings in Rocket Lab USA by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer’s stock worth $146,831,000 after acquiring an additional 451,370 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in Rocket Lab USA during the first quarter worth $145,000. 180 Wealth Advisors LLC lifted its holdings in Rocket Lab USA by 35.3% during the first quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer’s stock valued at $154,000 after purchasing an additional 9,747 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Rocket Lab USA by 196.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 65,014 shares of the rocket manufacturer’s stock valued at $267,000 after purchasing an additional 43,095 shares during the period. 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.