Rocket Lab USA (NASDAQ:RKLB) Posts Earnings Results, Beats Expectations By $0.02 EPS

Rocket Lab USA (NASDAQ:RKLB) released its earnings results on Monday. The rocket manufacturer reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02, Briefing.com reports. The firm had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.98 million. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The firm’s revenue for the quarter was up 69.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) earnings per share. Rocket Lab USA updated its Q2 2024 guidance to EPS.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB traded down $0.33 during trading hours on Tuesday, reaching $3.73. The stock had a trading volume of 4,797,304 shares, compared to its average volume of 8,175,195. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -9.66 and a beta of 1.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.13 and a quick ratio of 1.65. The business’s fifty day moving average is $4.01 and its two-hundred day moving average is $4.45. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $8.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Citigroup restated a “buy” rating and issued a $6.00 target price on shares of Rocket Lab USA in a research note on Monday, February 12th. Finally, KeyCorp began coverage on Rocket Lab USA in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 target price for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.46.

Insider Buying and Selling at Rocket Lab USA

In related news, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the transaction, the chief financial officer now directly owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the sale, the chief financial officer now owns 1,442,206 shares in the company, valued at $6,129,375.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 31,394 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the transaction, the general counsel now owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

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.