Rocket Lab Corporation (NASDAQ:RKLB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) has received an average rating of “Moderate Buy” from the twenty-one research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $102.7647.

Several brokerages have issued reports on RKLB. KeyCorp upgraded Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Monday, June 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Rocket Lab in a report on Wednesday, May 27th. Wells Fargo & Company initiated coverage on Rocket Lab in a report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target for the company. Roth Mkm increased their price target on Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Craig Hallum upgraded Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Friday, May 8th.

Check Out Our Latest Stock Analysis on RKLB

Insiders Place Their Bets

In other news, SVP Arjun Kampani sold 88,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the completion of the transaction, the senior vice president directly owned 264,705 shares in the company, valued at approximately $28,582,845.90. This represents a 24.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexander R. Slusky sold 100,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $118.08, for a total value of $11,808,000.00. Following the transaction, the director owned 434,675 shares of the company’s stock, valued at approximately $51,326,424. This represents a 18.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 573,515 shares of company stock valued at $76,412,122. 8.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab

A number of hedge funds have recently modified their holdings of the business. Western Wealth Management LLC grew its holdings in shares of Rocket Lab by 4.6% during the 1st quarter. Western Wealth Management LLC now owns 4,088 shares of the rocket manufacturer’s stock worth $263,000 after purchasing an additional 180 shares during the period. Parallel Advisors LLC lifted its stake in Rocket Lab by 16.1% during the 1st quarter. Parallel Advisors LLC now owns 3,033 shares of the rocket manufacturer’s stock worth $195,000 after acquiring an additional 421 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Rocket Lab by 2.3% during the 1st quarter. NewEdge Advisors LLC now owns 48,567 shares of the rocket manufacturer’s stock worth $3,119,000 after acquiring an additional 1,076 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Rocket Lab by 3.4% during the 1st quarter. Glenmede Trust Co. NA now owns 8,656 shares of the rocket manufacturer’s stock worth $556,000 after acquiring an additional 282 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Rocket Lab by 8.5% during the 1st quarter. Janus Henderson Group PLC now owns 198,013 shares of the rocket manufacturer’s stock worth $12,715,000 after acquiring an additional 15,558 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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Rocket Lab Price Performance

Shares of NASDAQ:RKLB opened at $107.24 on Monday. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $105.58 and a two-hundred day moving average of $83.31. The stock has a market cap of $62.07 billion, a P/E ratio of -335.13 and a beta of 2.49. Rocket Lab has a 52-week low of $27.84 and a 52-week high of $151.00.

Rocket Lab (NASDAQ:RKLBGet Free Report) last issued its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The firm’s quarterly revenue was up 63.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) EPS. On average, research analysts expect that Rocket Lab will post -0.29 earnings per share for the current year.

Rocket Lab Company Profile

(Get Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

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Analyst Recommendations for Rocket Lab (NASDAQ:RKLB)

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