Rocket Lab USA (NASDAQ:RKLB – Get Free Report) had its price objective hoisted by stock analysts at Citigroup from $4.55 to $7.40 in a note issued to investors on Wednesday, FlyOnTheWall reports. Citigroup’s price target points to a potential upside of 11.11% from the company’s current price.
Rocket Lab USA Trading Up 1.1 %
NASDAQ RKLB opened at $6.66 on Wednesday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -20.18 and a beta of 1.02. The stock’s 50 day moving average price is $6.17 and its two-hundred day moving average price is $4.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.72 and a current ratio of 3.22. Rocket Lab USA has a 52 week low of $3.48 and a 52 week high of $8.05.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last released its earnings results on Tuesday, May 9th. The rocket manufacturer reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $54.90 million for the quarter, compared to analysts’ expectations of $52.56 million. Rocket Lab USA had a negative return on equity of 22.79% and a negative net margin of 68.77%. As a group, analysts anticipate that Rocket Lab USA will post -0.35 earnings per share for the current fiscal year.
Insider Buying and Selling at Rocket Lab USA
In other Rocket Lab USA news, Director Michael D. Griffin sold 50,689 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $5.00, for a total transaction of $253,445.00. Following the transaction, the director now owns 38,090 shares of the company’s stock, valued at approximately $190,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Arjun Kampani sold 22,428 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $4.50, for a total transaction of $100,926.00. Following the transaction, the insider now directly owns 546,065 shares of the company’s stock, valued at approximately $2,457,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael D. Griffin sold 50,689 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $5.00, for a total value of $253,445.00. Following the transaction, the director now directly owns 38,090 shares in the company, valued at $190,450. The disclosure for this sale can be found here. In the last quarter, insiders have sold 190,388 shares of company stock worth $877,022. Corporate insiders own 15.00% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Rocket Lab USA by 806.4% in the 1st quarter. Vanguard Group Inc. now owns 21,373,494 shares of the rocket manufacturer’s stock valued at $172,057,000 after buying an additional 19,015,363 shares in the last quarter. State Street Corp grew its holdings in Rocket Lab USA by 1,164.6% in the 1st quarter. State Street Corp now owns 7,942,133 shares of the rocket manufacturer’s stock valued at $63,934,000 after buying an additional 7,314,121 shares in the last quarter. BlackRock Inc. grew its holdings in Rocket Lab USA by 165.6% in the 1st quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock valued at $51,878,000 after buying an additional 4,017,797 shares in the last quarter. Northern Trust Corp lifted its position in shares of Rocket Lab USA by 460.0% during the 2nd quarter. Northern Trust Corp now owns 1,759,047 shares of the rocket manufacturer’s stock valued at $6,666,000 after acquiring an additional 1,444,907 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $4,281,000. 54.58% of the stock is owned by institutional investors and hedge funds.
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.
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