Rocket Lab USA (NASDAQ:RKLB) Shares Up 2.2% Following Analyst Upgrade

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) was up 2.2% during trading on Friday after The Goldman Sachs Group raised their price target on the stock from $4.50 to $5.00. The Goldman Sachs Group currently has a neutral rating on the stock. Rocket Lab USA traded as high as $9.73 and last traded at $9.60. Approximately 2,407,542 shares were traded during trading, a decline of 75% from the average daily volume of 9,657,530 shares. The stock had previously closed at $9.39.

Several other equities research analysts have also recently weighed in on RKLB. Citigroup upped their price target on Rocket Lab USA from $5.45 to $7.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. JMP Securities started coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a "market perform" rating on the stock. Morgan Stanley cut shares of Rocket Lab USA from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $8.00 to $6.00 in a research report on Monday, July 15th. KeyCorp increased their price objective on Rocket Lab USA from $8.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. Finally, BTIG Research initiated coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They set a "neutral" rating for the company. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $6.75.

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 62,512 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was 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 trade represents 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 link. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the transaction, the chief financial officer now owns 1,321,165 shares of the company's stock, valued at approximately $9,195,308.40. This trade represents 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 quarter. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors have recently added to or reduced their stakes in RKLB. Virtu Financial LLC bought a new position in Rocket Lab USA in the fourth quarter worth $852,000. Vanguard Group Inc. increased its holdings in shares of Rocket Lab USA by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer's stock valued at $146,831,000 after acquiring an additional 451,370 shares in the last quarter. Sanders Morris Harris LLC bought a new position in shares of Rocket Lab USA during the first quarter valued at $145,000. 180 Wealth Advisors LLC increased its holdings in shares of Rocket Lab USA by 35.3% during the first quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer's stock valued at $154,000 after acquiring an additional 9,747 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Rocket Lab USA by 196.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 65,014 shares of the rocket manufacturer's stock valued at $267,000 after acquiring an additional 43,095 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Rocket Lab USA Price Performance

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 firm has a fifty day moving average price of $7.02 and a two-hundred day moving average price of $5.33. The stock has a market capitalization of $4.78 billion, a P/E ratio of -26.05 and a beta of 1.32.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly 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 return on equity of 34.12% and a negative net margin of 54.17%. The firm had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. During the same period last year, the company earned ($0.10) earnings per share. The company's revenue was up 71.2% on a year-over-year basis. On average, analysts expect that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

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.