Roth Mkm Reaffirms “Buy” Rating for Rocket Lab USA (NASDAQ:RKLB)

Rocket Lab USA (NASDAQ:RKLB)‘s stock had its “buy” rating reissued by Roth Mkm in a research note issued on Tuesday, Benzinga reports. They currently have a $10.00 target price on the rocket manufacturer’s stock. Roth Mkm’s price target would suggest a potential upside of 120.26% from the company’s previous close.

RKLB has been the subject of a number of other reports. Citigroup boosted their target price on shares of Rocket Lab USA from $4.55 to $7.40 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Wells Fargo & Company boosted their price objective on Rocket Lab USA from $5.50 to $6.75 and gave the stock an “equal weight” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.27.

Rocket Lab USA Stock Performance

RKLB traded down $0.50 on Tuesday, hitting $4.54. 8,546,806 shares of the company’s stock were exchanged, compared to its average volume of 4,007,998. The company has a current ratio of 1.83, a quick ratio of 1.50 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average of $6.41 and a two-hundred day moving average of $5.20. Rocket Lab USA has a twelve month low of $3.48 and a twelve month high of $8.05. The firm has a market cap of $2.19 billion, a PE ratio of -12.86 and a beta of 1.06.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Tuesday, August 8th. The rocket manufacturer reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $62.05 million during the quarter, compared to the consensus estimate of $61.68 million. Rocket Lab USA had a negative return on equity of 24.98% and a negative net margin of 70.47%. On average, research analysts anticipate that Rocket Lab USA will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Arjun Kampani sold 20,675 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $5.74, for a total value of $118,674.50. Following the completion of the sale, the insider now directly owns 525,390 shares in the company, valued at $3,015,738.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Peter Beck sold 3,600,000 shares of Rocket Lab USA stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $5.62, for a total transaction of $20,232,000.00. Following the transaction, the chief executive officer now directly owns 50,951,250 shares of the company’s stock, valued at $286,346,025. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Arjun Kampani sold 20,675 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $5.74, for a total transaction of $118,674.50. Following the completion of the sale, the insider now directly owns 525,390 shares of the company’s stock, valued at $3,015,738.60. The disclosure for this sale can be found here. Insiders have sold 3,720,142 shares of company stock worth $20,944,469 over the last quarter. 15.00% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in Rocket Lab USA in the second quarter worth approximately $27,000. Exchange Traded Concepts LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter worth $46,000. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA in the 1st quarter worth $38,000. Capital Investment Counsel Inc acquired a new stake in shares of Rocket Lab USA during the first quarter worth $40,000. Finally, Baxter Bros Inc. purchased a new stake in shares of Rocket Lab USA during the first quarter valued at $40,000. 54.19% of the stock is currently owned by institutional investors.

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.