Rocket Lab USA (NASDAQ:RKLB) Releases Earnings Results, Beats Estimates By $0.01 EPS

Rocket Lab USA (NASDAQ:RKLB) issued its quarterly earnings data on Tuesday. The rocket manufacturer reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01, reports. The business had revenue of $104.81 million during the quarter, compared to analysts’ expectations of $102.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 37.95%. Rocket Lab USA updated its Q4 2024 guidance to EPS.

Rocket Lab USA Price Performance

NASDAQ RKLB opened at $18.83 on Thursday. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $22.55. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of -50.89 and a beta of 1.29. The company has a 50-day moving average price of $9.64 and a two-hundred day moving average price of $6.61.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. JMP Securities started coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. KeyCorp boosted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.69.

Insiders Place Their Bets

In other news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,521 shares of company stock worth $906,059. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds have recently made changes to their positions in RKLB. Advisors Asset Management Inc. lifted its position in shares of Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after acquiring an additional 4,032 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA during the 2nd quarter worth $46,000. Baxter Bros Inc. bought a new position in Rocket Lab USA in the 2nd quarter worth $48,000. Amalgamated Bank raised its holdings in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Rocket Lab USA in the 2nd quarter worth $67,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.