Rocket Lab (NASDAQ:RKLB) Stock Rating Lowered by Zacks Research

Rocket Lab (NASDAQ:RKLB) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. TD Cowen reissued a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Robert W. Baird raised Rocket Lab to a “strong-buy” rating in a report on Thursday, October 16th. Stifel Nicolaus raised their target price on Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.92.

Rocket Lab Trading Down 3.3%

Shares of Rocket Lab stock opened at $69.67 on Tuesday. The firm has a market cap of $37.21 billion, a PE ratio of -183.34 and a beta of 2.16. Rocket Lab has a 1 year low of $14.71 and a 1 year high of $99.58. 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 fifty day moving average price of $74.84 and a 200-day moving average price of $58.97.

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

Insider Buying and Selling

In other news, CFO Adam C. Spice sold 1,365,665 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the sale, the chief financial officer directly owned 1,359,568 shares in the company, valued at $102,647,384. This represents a 50.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter Beck sold 1,560,254 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $57.47, for a total transaction of $89,667,797.38. Following the completion of the sale, the chief executive officer directly owned 939,746 shares in the company, valued at approximately $54,007,202.62. The trade was a 62.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,306,150 shares of company stock valued at $271,865,732 in the last 90 days. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Rocket Lab

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aventura Private Wealth LLC purchased a new position in shares of Rocket Lab during the 4th quarter valued at $25,000. Zions Bancorporation National Association UT bought a new stake in Rocket Lab during the fourth quarter valued at $28,000. Gordian Capital Singapore Pte Ltd purchased a new position in Rocket Lab during the fourth quarter worth about $29,000. V Square Quantitative Management LLC bought a new position in Rocket Lab in the 4th quarter worth about $32,000. Finally, DecisionPoint Financial LLC increased its stake in Rocket Lab by 91.1% in the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer’s stock worth $33,000 after acquiring an additional 225 shares during 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.