Rocket Lab USA (NASDAQ:RKLB) Now Covered by Analysts at BTIG Research

BTIG Research initiated coverage on shares of Rocket Lab USA (NASDAQ:RKLB) in a research report released on Wednesday, MarketBeat reports. The brokerage issued a neutral rating on the rocket manufacturer’s stock.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group initiated coverage on shares of Rocket Lab USA in a research note on Tuesday, June 11th. They issued a neutral rating and a $4.50 price objective on the stock. Wells Fargo & Company decreased their price target on Rocket Lab USA from $5.00 to $4.25 and set an equal weight rating for the company in a research note on Thursday, April 4th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $6.00 price objective on shares of Rocket Lab USA in a research note on Thursday, June 20th. Citigroup decreased their target price on shares of Rocket Lab USA from $6.00 to $5.45 and set a buy rating for the company in a research report on Tuesday, May 7th. Finally, Roth Mkm restated a buy rating and issued a $7.00 price target on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $6.65.

Rocket Lab USA Trading Down 1.2 %

NASDAQ RKLB opened at $4.80 on Wednesday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -12.97 and a beta of 1.23. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $8.05. The company has a quick ratio of 2.69, a current ratio of 3.12 and a debt-to-equity ratio of 0.86. The business’s fifty day moving average is $4.31 and its 200 day moving average is $4.47.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The company had revenue of $92.80 million during the quarter, compared to the consensus estimate of $94.98 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The firm’s revenue was up 69.0% compared to the same quarter last year. As a group, sell-side analysts expect that Rocket Lab USA will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Arjun Kampani sold 29,026 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the transaction, the general counsel now owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the sale, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $122,489.72. Following the transaction, the general counsel now directly owns 666,121 shares in the company, valued at $2,811,030.62. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several hedge funds have recently bought and sold shares of RKLB. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Lab USA by 15.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,057,607 shares of the rocket manufacturer’s stock valued at $9,012,000 after buying an additional 269,388 shares during the last quarter. Deutsche Bank AG boosted its stake in Rocket Lab USA by 14.8% during the 3rd quarter. Deutsche Bank AG now owns 135,146 shares of the rocket manufacturer’s stock valued at $592,000 after purchasing an additional 17,374 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in Rocket Lab USA by 216.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 126,180 shares of the rocket manufacturer’s stock worth $553,000 after purchasing an additional 86,340 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Rocket Lab USA in the third quarter worth approximately $44,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Rocket Lab USA in the third quarter valued at approximately $2,271,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.