Rocket Lab USA (NASDAQ:RKLB) Research Coverage Started at BTIG Research

BTIG Research initiated coverage on shares of Rocket Lab USA (NASDAQ:RKLB) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating on the rocket manufacturer’s stock.

RKLB has been the topic of several other reports. Roth Mkm restated a buy rating and issued a $7.00 price target on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Cantor Fitzgerald restated an overweight rating and issued a $6.00 price target on shares of Rocket Lab USA in a research report on Thursday, June 20th. Citigroup decreased their price target on shares of Rocket Lab USA from $6.00 to $5.45 and set a buy rating on the stock in a research report on Tuesday, May 7th. The Goldman Sachs Group began coverage on shares of Rocket Lab USA in a research report on Tuesday, June 11th. They issued a neutral rating and a $4.50 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $5.00 to $4.25 and set an equal weight rating for the company in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $6.65.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $4.80 on Wednesday. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $8.05. The firm’s fifty day simple moving average is $4.31 and its 200 day simple moving average is $4.47. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $2.37 billion, a PE ratio of -12.97 and a beta of 1.23.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The business’s quarterly revenue was up 69.0% on a year-over-year basis. During the same period last year, the business posted ($0.10) EPS. On average, sell-side analysts anticipate that Rocket Lab USA will post -0.41 EPS for the current year.

Insider Transactions at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the transaction, the general counsel now directly owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $268,092.38. Following the completion of the transaction, the chief financial officer now directly owns 1,383,677 shares of the company’s stock, valued at approximately $5,839,116.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the transaction, the general counsel now directly owns 666,121 shares of the company’s stock, valued at $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Rocket Lab USA during the 4th quarter valued at about $34,000. Spire Wealth Management raised its stake in shares of Rocket Lab USA by 257.1% in the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after acquiring an additional 7,200 shares during the last quarter. MQS Management LLC bought a new position in shares of Rocket Lab USA in the third quarter worth about $44,000. Advisors Asset Management Inc. raised its stake in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after acquiring an additional 4,032 shares during the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Rocket Lab USA in the fourth quarter worth about $61,000. 71.78% of the stock is owned by institutional investors.

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.