Rocket Lab USA (NASDAQ:RKLB) Announces Earnings Results

Rocket Lab USA (NASDAQ:RKLB) posted its quarterly earnings data on Monday. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02, Briefing.com reports. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.98 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The firm’s revenue was up 69.0% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. Rocket Lab USA updated its Q2 2024 guidance to EPS.

Rocket Lab USA Price Performance

NASDAQ RKLB traded up $0.12 during trading on Thursday, hitting $4.22. 3,354,154 shares of the company’s stock were exchanged, compared to its average volume of 8,296,509. The company has a market cap of $2.06 billion, a PE ratio of -10.79 and a beta of 1.18. The company has a current ratio of 2.13, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $8.05. The stock’s 50 day moving average price is $3.98 and its two-hundred day moving average price is $4.44.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. KeyCorp started coverage on shares of Rocket Lab USA in a research note on Wednesday, January 17th. They set an “overweight” rating and a $8.00 target price for the company. Wells Fargo & Company cut their price objective on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Finally, Citigroup decreased their target price on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus target price of $7.39.

Insider Activity

In related news, General Counsel Arjun Kampani sold 31,394 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the transaction, the general counsel now directly owns 695,147 shares in the company, valued at approximately $2,954,374.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the transaction, the general counsel now owns 695,147 shares in the company, valued at $2,954,374.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the sale, the chief financial officer now owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate insiders.

About Rocket Lab USA

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.