Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price shot up 0.4% during mid-day trading on Monday . The stock traded as high as $10.11 and last traded at $9.84. 5,044,156 shares traded hands during trading, a decline of 48% from the average session volume of 9,650,163 shares. The stock had previously closed at $9.80.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RKLB. Morgan Stanley cut shares of Rocket Lab USA from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. BTIG Research began coverage on shares of Rocket Lab USA in a research report on Wednesday, June 26th. They issued a "neutral" rating on the stock. The Goldman Sachs Group began coverage on shares of Rocket Lab USA in a research report on Tuesday, June 11th. They set a "neutral" rating and a $4.50 price target on the stock. KeyCorp lifted their price target on shares of Rocket Lab USA from $8.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 price objective on shares of Rocket Lab USA in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of "Hold" and an average price target of $6.68.
Read Our Latest Research Report on RKLB
Rocket Lab USA Trading Down 1.2 %
The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. The business's 50 day moving average is $6.68 and its 200-day moving average is $5.19. The firm has a market cap of $4.77 billion, a P/E ratio of -26.16 and a beta of 1.32.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. The firm's revenue for the quarter was up 71.2% compared to the same quarter last year. As a group, analysts forecast that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Adam C. Spice sold 62,512 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now directly owns 42,353 shares in the company, valued at approximately $292,235.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of the business'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 $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock valued at $906,059 over the last 90 days. 13.70% of the stock is currently owned by company insiders.
Institutional Trading of Rocket Lab USA
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 worth $119,192,000 after buying an additional 2,448,789 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Rocket Lab USA by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer's stock valued at $156,000 after purchasing an additional 5,838 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Rocket Lab USA by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer's stock valued at $440,000 after purchasing an additional 26,605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Rocket Lab USA by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer's stock valued at $1,209,000 after purchasing an additional 6,534 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of 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 valued at $6,950,000 after purchasing an additional 229,512 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.
Rocket Lab USA Company Profile
(
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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