Rocket Lab (NASDAQ:RKLB) Upgraded at Zacks Research

Rocket Lab (NASDAQ:RKLB) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a research report on Wednesday, October 8th. Needham & Company LLC raised their price target on shares of Rocket Lab from $63.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. KeyCorp upped their price objective on Rocket Lab from $50.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Bank of America raised their target price on Rocket Lab from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Finally, Baird R W raised Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Three equities 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.25.

Rocket Lab Trading Down 1.5%

Rocket Lab stock opened at $86.58 on Monday. Rocket Lab has a 52 week low of $14.71 and a 52 week high of $89.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. The firm has a market capitalization of $46.25 billion, a PE ratio of -227.84 and a beta of 2.16. The business’s 50-day simple moving average is $59.11 and its 200-day simple moving average is $53.14.

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

Insider Transactions at Rocket Lab

In other news, Director Edward H. Frank sold 2,500 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $77.39, for a total value of $193,475.00. Following the transaction, the director directly owned 142,504 shares in the company, valued at $11,028,384.56. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nina Armagno sold 27,314 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $68.21, for a total value of $1,863,087.94. Following the completion of the sale, the director owned 108,940 shares of the company’s stock, valued at $7,430,797.40. This represents a 20.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 4,197,650 shares of company stock valued at $262,429,052. 11.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Rocket Lab by 114.0% during the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after purchasing an additional 92,849 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Rocket Lab by 1,812.1% during the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after buying an additional 34,882 shares during the period. Jones Financial Companies Lllp lifted its stake in Rocket Lab by 53.8% in the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after buying an additional 5,507 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Rocket Lab by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock valued at $13,831,000 after buying an additional 90,758 shares during the period. Finally, Focus Partners Wealth increased its position in shares of Rocket Lab by 1.0% during the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after acquiring an additional 681 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.