Rocket Lab USA (NASDAQ:RKLB) Trading Up 6.4% – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded up 6.4% on Wednesday . The company traded as high as $10.60 and last traded at $10.58. 6,628,665 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 9,733,639 shares. The stock had previously closed at $9.94.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of research analyst reports. JMP Securities assumed coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. The Goldman Sachs Group raised their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Citigroup increased their target price on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Roth Mkm reissued a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research report on Monday, September 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.75.

Rocket Lab USA Stock Performance

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 price of $7.33 and a 200-day moving average price of $5.47.

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, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The firm’s revenue was up 71.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share. As a group, research analysts expect that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Adam C. Spice sold 62,512 shares of the business’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 $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its position in 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 worth $44,000 after buying an additional 4,032 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the second quarter valued at approximately $46,000. Baxter Bros Inc. acquired a new stake in shares of Rocket Lab USA in the second quarter valued at approximately $48,000. Amalgamated Bank raised its position in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Rocket Lab USA in the 2nd quarter valued at $67,000. 71.78% of the stock is owned by institutional investors.

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.