Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) Director Michael D. Griffin sold 50,688 shares of Rocket Lab USA stock in a transaction on Monday, December 12th. The shares were sold at an average price of 4.12, for a total value of 208,834.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Rocket Lab USA Stock Down 2.2 %
Rocket Lab USA stock opened at 4.03 on Friday. Rocket Lab USA, Inc. has a one year low of 3.53 and a one year high of 13.14. The stock's 50 day moving average price is 4.48 and its 200 day moving average price is 4.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.34 and a quick ratio of 3.80.
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Rocket Lab USA (NASDAQ:RKLB – Get Rating) last posted its earnings results on Wednesday, November 9th. The rocket manufacturer reported -0.07 EPS for the quarter, hitting analysts' consensus estimates of -0.07. The business had revenue of 63.06 million for the quarter, compared to analysts' expectations of 62.79 million. Rocket Lab USA had a negative net margin of 51.17% and a negative return on equity of 13.48%. Research analysts forecast that Rocket Lab USA, Inc. will post -0.32 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
RKLB has been the subject of several recent analyst reports. Canaccord Genuity Group lowered their price target on Rocket Lab USA from $16.00 to $15.00 in a report on Thursday, November 10th. Wells Fargo & Company lowered their target price on shares of Rocket Lab USA from $6.50 to $5.75 and set an "equal weight" rating for the company in a report on Thursday, November 10th. Credit Suisse Group started coverage on shares of Rocket Lab USA in a research note on Tuesday, October 11th. They set an "underperform" rating and a $3.00 price target on the stock. Morgan Stanley lowered their price objective on shares of Rocket Lab USA from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, November 11th. Finally, Cowen raised Rocket Lab USA from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $6.50 to $8.00 in a research report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of 11.61.
Institutional Trading of Rocket Lab USA
Large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new position in shares of Rocket Lab USA in the second quarter worth about $27,000. Exchange Traded Concepts LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at approximately $35,000. Commerce Bank purchased a new position in shares of Rocket Lab USA during the 2nd quarter valued at approximately $38,000. Capstone Investment Advisors LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth approximately $41,000. Finally, Xponance Inc. bought a new stake in shares of Rocket Lab USA in the second quarter worth $43,000. 65.04% of the stock is currently owned by institutional investors and hedge funds.
Rocket Lab USA Company Profile
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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 engineering and 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.
Further Reading
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