Rocket Lab USA (NASDAQ:RKLB) Now Covered by The Goldman Sachs Group

Analysts at The Goldman Sachs Group began coverage on shares of Rocket Lab USA (NASDAQ:RKLBGet Free Report) in a report released on Tuesday, Briefing.com reports. The firm set a “neutral” rating and a $4.50 price target on the rocket manufacturer’s stock. The Goldman Sachs Group’s target price points to a potential downside of 1.32% from the stock’s current price.

Several other brokerages have also recently issued reports on RKLB. Citigroup dropped their target price on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.00 target price on shares of Rocket Lab USA in a research report on Tuesday, May 28th. Finally, Wells Fargo & Company dropped 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.03.

Get Our Latest Analysis on RKLB

Rocket Lab USA Trading Up 2.7 %

Rocket Lab USA stock opened at $4.56 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69. Rocket Lab USA has a one year low of $3.47 and a one year high of $8.05. The stock has a market capitalization of $2.25 billion, a PE ratio of -12.32 and a beta of 1.23. The business’s fifty day moving average is $4.03 and its 200 day moving average is $4.45.

Rocket Lab USA (NASDAQ:RKLBGet Free Report) last released its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) 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 for the quarter, compared to analysts’ expectations of $94.98 million. During the same period last year, the firm posted ($0.10) earnings per share. Rocket Lab USA’s revenue was up 69.0% compared to the same quarter last year. On average, sell-side analysts predict that Rocket Lab USA will post -0.41 EPS for the current year.

Insider Activity

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

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the period. American Century Companies Inc. increased its stake in Rocket Lab USA by 12.0% in the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock worth $16,213,000 after acquiring an additional 396,501 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Rocket Lab USA by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the rocket manufacturer’s stock worth $11,513,000 after acquiring an additional 24,232 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in Rocket Lab USA by 15.7% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,917,000 after acquiring an additional 229,512 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Rocket Lab USA by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,950,000 after acquiring an additional 229,512 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

About Rocket Lab USA

(Get Free Report)

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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