Table of Contents
1 Rocket Lab USA Stock Performance
2 Recent Insider Transactions at Rocket Lab USA
3 Institutional Investors’ Impact on Rocket Lab USA
4 Overview of Rocket Lab USA
5 Highlighted Stories
According to a report by Benzinga, Cantor Fitzgerald has reiterated their overweight rating on Rocket Lab USA (NASDAQ:RKLB – Free Report), with a current price target of $6.00 for the company’s stock.
Several other reports have also been released regarding RKLB. BTIG Research initiated coverage on Rocket Lab USA on June 26th with a neutral rating. Morgan Stanley downgraded the stock from overweight to equal weight and decreased their price objective from $8.00 to $6.00. Roth Mkm reaffirmed a buy rating with a $7.00 target price, while Wells Fargo & Company lowered their price target from $5.00 to $4.25. Citigroup also reduced their price objective from $6.00 to $5.45 and maintained a buy rating. Currently, the stock has a consensus rating of Moderate Buy with an average target price of $6.58, based on data from MarketBeat.
Check Out Our Latest Research Report on Rocket Lab USA
Rocket Lab USA Stock Performance
Rocket Lab USA began trading at $5.72 on Monday. The stock’s 50-day moving average stands at $4.58, with a 200-day moving average of $4.46. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -15.46, and a beta of 1.25. Rocket Lab USA has a 12-month low of $3.47 and a high of $8.05. It also holds a current ratio of 3.12, a quick ratio of 2.69, and a debt-to-equity ratio of 0.86.
Regarding earnings, Rocket Lab USA (NASDAQ:RKLB – Get Free Report) reported earnings data on May 6th, with an EPS of ($0.09) for the quarter, surpassing the consensus estimate of ($0.11) by $0.02. The company experienced a negative net margin of 64.15% and a negative return on equity of 32.50%. Revenue for the quarter was $92.80 million, slightly lower than analyst estimates of $94.98 million. Analysts predict that Rocket Lab USA will report -0.41 earnings per share for the current year.
Recent Insider Transactions at Rocket Lab USA
In recent news, CFO Adam C. Spice sold 63,529 shares of the company’s stock on May 24th at an average price of $4.22 per share, totaling $268,092.38. Following the sale, the CFO now holds 1,383,677 shares valued at $5,839,116.94. Insider activity also includes General Counsel Arjun Kampani selling 29,026 shares on the same day. 13.70% of the stock is owned by corporate insiders.
Institutional Investors’ Impact on Rocket Lab USA
Various institutional investors and hedge funds have made changes to their positions in RKLB. Graham Capital Management L.P. acquired a new stake in Rocket Lab USA, while American Century Companies Inc. increased their holdings by 12.0%. Wellington Management Group LLP and Vanguard Group Inc. also saw growth in their positions, while SG Americas Securities LLC started a new position in the company. Hedge funds and institutional investors now own 71.78% of Rocket Lab USA.
Overview of Rocket Lab USA
(Get Free Report)
Rocket Lab USA, Inc. specializes in providing launch services and space systems solutions for the space and defense industries. Their services include launch services, spacecraft design, manufacturing, and on-orbit management solutions, as well as small and medium-class rocket designs.
Highlighted Stories
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Author : usa-news
Publish date : 2024-07-16 09:54:39
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