Rocket Lab USA (NASDAQ:RKLB) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $4.06 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 2.13. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $8.05. The business has a 50-day moving average price of $4.01 and a 200-day moving average price of $4.45.

Analyst Ratings Changes

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

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of the firm’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 completion of the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Rocket Lab USA 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 transaction of $285,430.00. Following the completion of the transaction, the chief financial officer now owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Arjun Kampani sold 31,394 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $133,424.50. Following the completion of the transaction, the general counsel now directly 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. 13.70% of the stock is owned by insiders.

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.