Rocket Lab USA (NASDAQ:RKLB) Announces Quarterly Earnings Results

Rocket Lab USA (NASDAQ:RKLB) issued its earnings results on Tuesday. The rocket manufacturer reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01, reports. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 37.95%. The business had revenue of $104.81 million for the quarter, compared to analyst estimates of $102.74 million. Rocket Lab USA updated its Q4 2024 guidance to EPS.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $18.83 on Thursday. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The firm’s fifty day moving average price is $9.64 and its two-hundred day moving average price is $6.61. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $22.55. The firm has a market capitalization of $9.35 billion, a P/E ratio of -50.89 and a beta of 1.29.

Insiders Place Their Bets

In other news, Director Michael D. Griffin sold 39,446 shares of the 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 transaction, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Michael D. Griffin sold 39,446 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the transaction, the general counsel now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of large investors have recently bought and sold shares of RKLB. Victory Capital Management Inc. boosted its stake in shares of Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after purchasing an additional 1,709 shares in the last quarter. Wellington Shields & Co. LLC raised its holdings in Rocket Lab USA by 3.8% in the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after buying an additional 2,503 shares during the last quarter. Amalgamated Bank raised its holdings in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Rocket Lab USA by 7.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after purchasing an additional 2,807 shares during the last quarter. Finally, Lakeridge Wealth Management LLC raised its holdings in Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after purchasing an additional 3,000 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RKLB shares. Citigroup lifted their target price on shares of Rocket Lab USA from $7.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. KeyCorp boosted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. JMP Securities initiated coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a report on Monday, September 30th. Finally, Wells Fargo & Company increased their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average target price of $10.69.

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.