Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report) shot up 8.7% during trading on Thursday after KeyCorp raised their price target on the stock from $11.00 to $12.00. KeyCorp currently has an overweight rating on the stock. Rocket Lab USA traded as high as $12.09 and last traded at $11.86. 7,536,354 shares were traded during mid-day trading, a decline of 24% from the average session volume of 9,854,891 shares. The stock had previously closed at $10.91.
Several other analysts have also recently commented on the stock. Citigroup raised their price objective on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JMP Securities began coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. BTIG Research began coverage on shares of Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating for the company. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 30th. Finally, The Goldman Sachs Group lifted their target price on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.89.
View Our Latest Research Report on RKLB
Insider Transactions at Rocket Lab USA
Institutional Investors Weigh In On Rocket Lab USA
Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP grew its holdings in Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 8,992 shares during the period. International Assets Investment Management LLC purchased a new stake in Rocket Lab USA in the second quarter valued at approximately $46,000. Baxter Bros Inc. purchased a new stake in Rocket Lab USA in the second quarter valued at approximately $48,000. Smith Anglin Financial LLC purchased a new stake in Rocket Lab USA in the third quarter valued at approximately $104,000. Finally, Advisors Asset Management Inc. grew its holdings in Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.
Rocket Lab USA Trading Up 2.6 %
The business’s fifty day moving average is $8.15 and its 200-day moving average is $5.79. The stock has a market capitalization of $5.56 billion, a PE ratio of -31.97 and a beta of 1.32. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. Rocket Lab USA’s revenue was up 71.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. As a group, analysts anticipate that Rocket Lab USA, Inc. will post -0.39 EPS for the current fiscal year.
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.
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