Rocket Lab USA (NASDAQ:RKLB) Sets New 52-Week High at $7.43

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares reached a new 52-week high on Friday . The company traded as high as $7.43 and last traded at $7.38, with a volume of 9588280 shares. The stock had previously closed at $6.86.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RKLB shares. Roth Mkm reissued a “buy” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research note on Tuesday, June 18th. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price target for the company. 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 report on Wednesday, August 14th. BTIG Research started coverage on shares of Rocket Lab USA in a research note on Wednesday, June 26th. They set a “neutral” rating for the company. Finally, JMP Securities assumed coverage on shares of Rocket Lab USA in a research report on Thursday. They issued a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.86.

Rocket Lab USA Stock Performance

The stock has a market capitalization of $3.70 billion, a PE ratio of -20.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The firm has a 50 day moving average of $5.76 and a 200-day moving average of $4.76.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm’s revenue was up 71.2% compared to the same quarter last year. Research analysts forecast that Rocket Lab USA, Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now owns 42,353 shares in the company, valued at $292,235.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 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 value of $198,798.48. Following the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock valued at $906,059 in the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Large investors have recently added to or reduced their stakes in the business. Wellington Shields & Co. LLC lifted its stake in shares of Rocket Lab USA by 3.8% in the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank raised its holdings in Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after buying an additional 2,807 shares during the last quarter. Verus Capital Partners LLC boosted its stake in shares of Rocket Lab USA by 11.9% during the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock worth $159,000 after acquiring an additional 3,525 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after acquiring an additional 4,032 shares during the last quarter. 71.78% 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.