Rocket Lab (NASDAQ:RKLB) Stock Rating Upgraded by Wall Street Zen

Rocket Lab (NASDAQ:RKLB) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts have also recently weighed in on RKLB. Baird R W raised shares of Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research report on Wednesday, October 8th. Morgan Stanley cut their target price on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Finally, Robert W. Baird started coverage on shares of Rocket Lab in a report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.25.

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB opened at $75.99 on Friday. The firm has a market cap of $40.59 billion, a PE ratio of -199.97 and a beta of 2.16. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average price is $56.05 and its two-hundred day moving average price is $50.26. Rocket Lab has a 12-month low of $14.71 and a 12-month high of $79.83.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. Equities research analysts predict that Rocket Lab will post -0.38 earnings per share for the current year.

Insider Transactions at Rocket Lab

In other news, insider Frank Klein sold 41,782 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $40.65, for a total transaction of $1,698,438.30. Following the transaction, the insider directly owned 1,274,223 shares of the company’s stock, valued at approximately $51,797,164.95. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Arjun Kampani sold 28,615 shares of Rocket Lab stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $40.65, for a total value of $1,163,199.75. Following the completion of the transaction, the senior vice president owned 461,014 shares in the company, valued at approximately $18,740,219.10. This represents a 5.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,731,985 shares of company stock worth $152,026,345. Company insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab

A number of large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in Rocket Lab in the 3rd quarter worth approximately $25,000. Hara Capital LLC bought a new stake in Rocket Lab during the 3rd quarter worth approximately $25,000. UMB Bank n.a. increased its stake in Rocket Lab by 352.5% in the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after buying an additional 423 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Rocket Lab during the 3rd quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC grew its stake in Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 416 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Company Profile

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.