In the last trading session, 7.33 million shares of the Rocket Lab USA Inc. (NASDAQ:RKLB) were traded. Most recently the company’s share price was $4.52, and it changed around -$0.43 or -8.69% from the last close, which brings the market valuation of the company to $2.15B. RKLB currently trades at a discount to its 52-week high of $7.29, offering almost -61.28% off that amount. The share price’s 52-week low was $3.48, which indicates that the current value has risen by an impressive 23.01% since then. We note from Rocket Lab USA Inc.’s average daily trading volume that its 10-day average is 4.76 million shares, with the 3-month average coming to 3.29 million.
Rocket Lab USA Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended RKLB as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Rocket Lab USA Inc. is expected to report earnings per share of -$0.09 for the current quarter.
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Rocket Lab USA Inc. (NASDAQ:RKLB) trade information
Instantly RKLB has showed a red trend with a performance of -8.69% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 5.01 on Tuesday, 05/23/23 increased the stock’s daily price by 9.78%. The company’s shares are currently up 19.89% year-to-date, but still up 5.61% over the last five days. On the other hand, Rocket Lab USA Inc. (NASDAQ:RKLB) is 15.31% up in the 30-day period. We can see from the shorts that 24.63 million shares have been sold at a short interest cover period of 9.43 day(s).
The consensus price target as assigned by Wall Street analysts is $8.82, which translates to bulls needing to increase their stock price by 48.75% from its current value. Analyst projections state that RKLB is forecast to be at a low of $4.55 and a high of $13.00. In order for the stock price to hit the forecast high, the stock would need to plunge -187.61% from its current level, while the stock would need to crash -0.66% from its current level to reach the projected low.
Rocket Lab USA Inc. (RKLB) estimates and forecasts
Rocket Lab USA Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -1.74 percent over the past six months and at a -20.69% annual growth rate that is well below the industry average of 7.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -12.50% in revenue this quarter, and will report a decrease of -14.30% in the next quarter. The year-over-year growth rate is expected to be 40.30%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $61.54 million in revenue for the current quarter. 5 analysts expect Rocket Lab USA Inc. to make $82.55 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $55.47 million and $60.11 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 10.90%. Forecasts for the next quarter put sales growth at 37.30%.
Rocket Lab USA Inc.’s next quarterly earnings report is expected to be released in June.
Rocket Lab USA Inc. (NASDAQ:RKLB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 18.24% of Rocket Lab USA Inc. shares, and 55.85% of them are in the hands of institutional investors. The stock currently has a share float of 68.32%. Rocket Lab USA Inc. stock is held by 251 institutions, with VK Services, LLC being the largest institutional investor. By Mar 30, 2023, it held 15.62% of the shares, which is about 74.75 million shares worth $302.0 million.
Deer Management Co. LLC, with 11.91% or 57.02 million shares worth $230.37 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Mar 30, 2023. The former held 10.92 million shares worth $44.1 million, making up 2.29% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 8.07 million shares worth around $30.43 million, which represents about 1.69% of the total shares outstanding.