Rocket Lab Corporation (NASDAQ:RKLB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Rocket Lab Corporation (NASDAQ:RKLB) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $72.9167.

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Rocket Lab from a “sell” rating to a “hold” rating in a research note on Sunday. Robert W. Baird raised Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. KeyCorp downgraded Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. Stifel Nicolaus boosted their target price on shares of Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Finally, Bank of America increased their price target on shares of Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th.

Rocket Lab Stock Up 4.9%

Shares of Rocket Lab stock opened at $75.86 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The stock has a market cap of $40.52 billion, a price-to-earnings ratio of -199.63 and a beta of 2.16. The firm’s 50-day moving average is $73.74 and its two-hundred day moving average is $58.72. Rocket Lab has a 1 year low of $14.71 and a 1 year high of $99.58.

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

Insiders Place Their Bets

In other news, insider Frank Klein sold 100,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the transaction, the insider directly owned 1,169,487 shares of the company’s stock, valued at approximately $85,314,076.65. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Arjun Kampani sold 28,615 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $40.65, for a total value of $1,163,199.75. Following the sale, the senior vice president owned 461,014 shares of the company’s stock, valued at approximately $18,740,219.10. This represents a 5.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 4,306,150 shares of company stock valued at $271,865,732. 11.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab

Large investors have recently modified their holdings of the business. Aventura Private Wealth LLC purchased a new stake in Rocket Lab during the 4th quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Rocket Lab during the fourth quarter worth $32,000. DecisionPoint Financial LLC increased its position in shares of Rocket Lab by 91.1% in the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer’s stock valued at $33,000 after acquiring an additional 225 shares during the period. Asset Dedication LLC purchased a new position in Rocket Lab in the 4th quarter worth $33,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Rocket Lab during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

About Rocket Lab

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.