Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Average Recommendation of “Moderate Buy” by Brokerages

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.72.

RKLB has been the subject of several analyst reports. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. KeyCorp cut their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company lowered their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Stifel Nicolaus upped their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC lifted its stake in shares of Rocket Lab USA by 356.4% in the 1st quarter. FNY Investment Advisers LLC now owns 5,249 shares of the rocket manufacturer’s stock valued at $93,000 after purchasing an additional 4,099 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Rocket Lab USA by 6.9% during the first quarter. Janney Montgomery Scott LLC now owns 42,022 shares of the rocket manufacturer’s stock worth $751,000 after buying an additional 2,715 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Rocket Lab USA by 5.3% during the 1st quarter. Handelsbanken Fonder AB now owns 85,100 shares of the rocket manufacturer’s stock worth $1,522,000 after buying an additional 4,300 shares during the period. SG Americas Securities LLC increased its stake in shares of Rocket Lab USA by 2,186.7% in the 1st quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer’s stock valued at $6,321,000 after acquiring an additional 338,062 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Rocket Lab USA by 25.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 118,237 shares of the rocket manufacturer’s stock valued at $2,114,000 after acquiring an additional 24,213 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $19.74 on Wednesday. The company’s fifty day moving average is $20.32 and its two-hundred day moving average is $20.94. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of -53.35 and a beta of 2.08. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA has a 52-week low of $3.49 and a 52-week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Equities research analysts forecast that Rocket Lab USA will post -0.38 EPS for the current year.

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.