According to a report by The Fly, investment analysts at Stifel Nicolaus lowered the price objective for Rocket Lab USA (NASDAQ: RKLB) from $14.00 to $12.00 in a distributed research note to clients and investors on Friday. The note was about the company’s stock.
RKLB has also been the focus of research conducted for a wide variety of other articles that have been published. As a direct result of the research note that Deutsche Bank Aktiengesellschaft published on November 14, their “buy” rating for Rocket Lab USA and their price objective for the company both dropped from $15.00 to $12.00. Rocket Lab USA was assigned a rating of “neutral” by Morgan Stanley following the publication of a research report on Friday, November 11. The report had been given an “overweight” rating before its release. In addition, the company has lowered its price objective for the stock from $12.00 to $10.00. On October 11, the day it started covering the company for the first time, Credit Suisse Group issued a report that included Rocket Lab USA shares as one of the companies it reported on. They forecasted that the share price would be $3.00 and gave the company an “underperform” rating. In a research note published on November 10, Wells Fargo & Company lowered their rating of Rocket Lab USA shares to “equal weight” and lowered their price target for the stock from $6.50 to $5.75. They also reduced their price target for the stock. In a research note published on Thursday, November 10, Canaccord Genuity Group decreased their price target on Rocket Lab USA shares from $16.00 down to $15.00. This was the last, but not the least, of the changes. Seven equity research analysts covering the company have suggested purchasing the stock. In contrast, only one has suggested keeping the stock in one’s portfolio, and only one has suggested selling the stock. According to information that can be found on Bloomberg.com, the stock is currently rated as having a consensus of “Moderate Buy,” and its price target has an average of 11.34 dollars.
When trading started on Friday, the price of a share of RKLB was $3.69 per share. The lowest point in the past year for Rocket Lab USA was 3.48, while the highest point in the past year for the company was 12.47. The company’s price has a moving average of $4.39 over the past fifty days, and over the past 200 days, that price has been $4.59. There is 0.17 cents’ worth of equity for every dollar, 4.34 dollars worth of current assets for every dollar, and 3.80 dollars’ worth of liquid assets for every dollar.
On November 9, Rocket Lab USA (NASDAQ: RKLB) shared that it had published its most recent quarterly earnings report with investors. The rocket manufacturer reported earnings per share for the period of -0.07, which was consistent with what analysts in the relevant industry had anticipated for the period in question. The return on equity and the net margin at Rocket Lab USA were red. The return on equity was -13.48%, and the net margin was -51.17%. The revenue for the quarter was $63.06 million, which is a significant increase compared to the forecasted amount of $62.7 million, which was widely disseminated. The majority opinion of investment community members is that Rocket Lab USA will report a loss of $0.28 per share for the current fiscal year.
Arjun Kampani, an insider at Rocket Lab USA, sold 13,810 shares on Friday, November 25, 2018. This was one of the more significant occurrences that took place. A total of 58,278.20 dollars was received for the sale of the shares, equivalent to an average price per share of $4.22. After the completion of the transaction, the business insider now directly owns 591,025 shares of the company’s stock. The current stock price of approximately $2,494,125.50 per share gives the business insider a total value of approximately $2,494,125.50. One can find a copy of the case file in which the transaction was disclosed on the Securities and Exchange Commission (SEC) website. The file contains information about the transaction. According to earlier reports regarding Rocket Lab USA, company insider Arjun Kampani sold 13,810 shares on Friday, November 25. This transaction was reported in earlier news regarding Rocket Lab USA. A total of 58,278.20 dollars was received for the sale of the shares, which works out to an average price of 4.22 dollars per share. After the completion of the sale, the company insider now directly owns 591,025 shares of the company. Based on the current stock price, these shares have a value of approximately $2,494,125.50. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately. Michael D. Griffin, who serves as a director, sold 50,688 shares of Rocket Lab USA stock on the trading day, Monday, December 12. The total amount received for the sale of the shares was 208,834.56 dollars, equivalent to an average price of 4.12 dollars per share. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company sold 110,157 shares during the preceding quarter for a total price of $459,794, including commissions and fees. The company’s insiders own the company’s stock to the extent of 15.30%.
Recent events have led to modifications in the proportions of RKLB holdings held by various hedge funds and other institutional investors. Point72 Hong Kong Ltd. made a fresh investment in Rocket Lab USA of $27,000 during the second quarter. During the third quarter, Exchange Traded Concepts LLC opened a new position at Rocket Lab USA. The position is estimated to be worth approximately $35,000 at this time. At approximately $38,000, Commerce Bank was able to purchase a new interest in Rocket Lab USA during the second quarter of the year. In addition, rocket Lab USA received fresh capital from Capstone Investment Advisors LLC for approximately $41,000 during the third quarter. This particular investment was a component of a much larger portfolio. Finally, Xponance, Inc. acquired a new position in Rocket Lab USA during the second quarter. At the time of the acquisition, the position was estimated to be worth approximately $43,000. Most of the company’s stock is owned by institutional investors and hedge funds, which account for 69.11% of the company’s total shares.
Rocket Lab USA, Inc. provides many different industries, including the aerospace and defense sectors, with launch services and solutions to problems that arise within space-based systems. The company not only designs and manufactures rockets in the small and medium-class categories, but it also provides launch services, spacecraft engineering, and design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management systems. In addition, the company designs and manufactures rockets in the small and medium-class categories.