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

Shares of Rocket Lab Corporation (NASDAQ:RKLB) have been given a consensus recommendation of “Moderate Buy” by the twenty-one research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $102.7647.

Several analysts have weighed in on RKLB shares. BTIG Research reaffirmed a “hold” rating on shares of Rocket Lab in a research report on Tuesday, May 12th. KGI Securities started coverage on Rocket Lab in a research report on Thursday. They set a “neutral” rating and a $105.00 price objective on the stock. Wells Fargo & Company started coverage on Rocket Lab in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective on the stock. KeyCorp raised Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a research report on Monday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Rocket Lab in a research report on Friday, May 8th.

Key Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab announced that it will join the Nasdaq-100 Index, effective June 22. That inclusion is a bullish technical and sentiment driver because it can increase visibility, attract index-tracking funds, and broaden institutional demand. Rocket Lab To Join The Nasdaq-100 Index
• Positive Sentiment: Several reports note that RKLB is benefiting from a “halo trade” in space stocks tied to SpaceX’s historic public debut, with traders rotating into space-related names as the industry gets more attention. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Rocket Lab’s recent business momentum also supports the stock, with Q1 revenue up 63.4% year over year to $200.35 million and results beating revenue estimates, reinforcing the growth story behind the company. Rocket Lab To Join The Nasdaq-100 Index
• Neutral Sentiment: Commentary from analysts and media has turned more upbeat on the stock, but much of the move appears to be driven by index inclusion and sector momentum rather than a new operating update. Space Stock Rocket Lab and 4 Others Are Joining the Nasdaq 100
• Negative Sentiment: Near-term volatility could stay elevated because the stock has also been caught in broader space-stock swings around SpaceX’s debut, and some traders are treating the group as a relative-value trade rather than a pure Rocket Lab fundamental story. Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, insider Marvin Bradford Clevenger sold 3,500 shares of Rocket Lab stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $146.67, for a total transaction of $513,345.00. Following the sale, the insider directly owned 473,975 shares of the company’s stock, valued at approximately $69,517,913.25. The trade was a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Arjun Kampani sold 23,804 shares of Rocket Lab stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $147.43, for a total value of $3,509,423.72. Following the sale, the senior vice president directly owned 352,705 shares in the company, valued at approximately $51,999,298.15. The trade was a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 485,515 shares of company stock worth $66,909,882. Insiders own 8.40% of the company’s stock.

Institutional Trading of Rocket Lab

Hedge funds have recently made changes to their positions in the stock. Aventura Private Wealth LLC bought a new stake in shares of Rocket Lab in the 4th quarter worth approximately $25,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Rocket Lab in the 4th quarter worth approximately $27,000. Zions Bancorporation National Association UT bought a new stake in shares of Rocket Lab in the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Rocket Lab by 109.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 416 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Rocket Lab in the 4th quarter worth approximately $29,000. 71.78% of the stock is owned by institutional investors.

Rocket Lab Price Performance

Shares of NASDAQ:RKLB opened at $102.39 on Monday. Rocket Lab has a 1 year low of $25.24 and a 1 year high of $151.00. The company has a market cap of $59.26 billion, a PE ratio of -319.97 and a beta of 2.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The stock’s 50-day moving average is $101.62 and its 200 day moving average is $81.30.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $200.35 million for 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 business’s revenue was up 63.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) EPS. Sell-side analysts anticipate that Rocket Lab will post -0.29 EPS for the current year.

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.