Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) Target Price at $7.46

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $7.46.

Several equities research analysts recently commented on RKLB shares. Wells Fargo & Company cut their target price on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. Citigroup restated a “buy” rating and issued a $6.00 target price on shares of Rocket Lab USA in a research note on Monday, February 12th. Finally, KeyCorp assumed coverage on shares of Rocket Lab USA in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price objective on the stock.

Rocket Lab USA Trading Up 1.3 %

Shares of RKLB stock opened at $4.00 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 2.13. The company has a market cap of $1.96 billion, a PE ratio of -10.53 and a beta of 1.18. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $8.05. The stock’s fifty day moving average price is $4.02 and its two-hundred day moving average price is $4.45.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The business had revenue of $59.99 million during the quarter, compared to the consensus estimate of $62.90 million. During the same period in the prior year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts predict that Rocket Lab USA will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the completion of the sale, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Arjun Kampani sold 31,394 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $133,424.50. Following the completion of the sale, the general counsel now owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter worth approximately $34,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Rocket Lab USA in the 3rd quarter worth about $40,000. Spire Wealth Management lifted its position in Rocket Lab USA by 257.1% during the 1st quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock valued at $41,000 after acquiring an additional 7,200 shares during the period. CenterBook Partners LP bought a new position in shares of Rocket Lab USA during the third quarter valued at approximately $44,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter worth approximately $44,000. 71.78% of the stock is currently 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.