Rocket Lab USA Inc (NASDAQ: RKLB): The Stock For Success Over The Next Few Months

In the last trading session, 4.64 million Rocket Lab USA Inc (NASDAQ:RKLB) shares changed hands as the company’s beta touched 1.16. With the company’s per share price at $4.31 changed hands at $0.1 or 2.38% during last session, the market valuation stood at $2.09B. RKLB’s last price was a discount, traded about -86.77% off its 52-week high of $8.05. The share price had its 52-week low at $3.48, which suggests the last value was 19.26% up since then. When we look at Rocket Lab USA Inc’s average trading volume, we note the 10-day average is 5.81 million shares, with the 3-month average coming to 4.15 million.

Analysts gave the Rocket Lab USA Inc (RKLB) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.50. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 2 recommended RKLB as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Rocket Lab USA Inc’s EPS for the current quarter is expected to be -$0.09.

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Rocket Lab USA Inc (NASDAQ:RKLB) trade information

Instantly RKLB was in green as seen at the end of in last trading. With action -0.46%, the performance over the past five days has been red. The jump to weekly highs of 4.65 on Monday, 11/20/23 added 2.38% to the stock’s daily price. The company’s shares are showing year-to-date upside of 14.32%, with the 5-day performance at -0.46% in the red. However, in the 30-day time frame, Rocket Lab USA Inc (NASDAQ:RKLB) is 5.38% up. Looking at the short shares, we see there were 22.04 million shares sold at short interest cover period of 7.25 days.

The consensus price target for the stock as assigned by Wall Street analysts is $8.14, meaning bulls need an upside of 47.05% from its current market value. According to analyst projections, RKLB’s forecast low is $5.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -178.42% plunge from its current level, while the stock would need to soar -16.01% for it to hit the projected low.

Rocket Lab USA Inc (RKLB) estimates and forecasts

Data shows that the Rocket Lab USA Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -12.93% over the past 6 months, a -31.03% in annual growth rate that is considerably lower than the industry average of 4.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Rocket Lab USA Inc will fall -12.50%, while the growth in revenue is estimated to hit 10.00% for the next quarter. Year-over-year growth is forecast to reach 19.30% up from the last financial year.

Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $67.29 million. 5 analysts are of the opinion that Rocket Lab USA Inc’s revenue for the quarter ending Mar 2024 will be $98.53 million. The company’s revenue for the corresponding quarters a year ago was $51.76 million and $54.9 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 30.00%. The estimates for the next quarter sales put growth at 79.50%.

The 2023 estimates are for Rocket Lab USA Inc earnings to increase by 17.36%.

RKLB Dividends

Rocket Lab USA Inc is expected to release its next quarterly earnings report on November 08.

Rocket Lab USA Inc (NASDAQ:RKLB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 17.89% of Rocket Lab USA Inc shares while 54.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 66.72%. There are 54.79% institutions holding the Rocket Lab USA Inc stock share, with VK Services, LLC the top institutional holder. As of Jun 29, 2023, the company held 15.47% of the shares, roughly 74.75 million RKLB shares worth $448.52 million.

Deer Management Co. LLC holds the second largest percentage of outstanding shares, with 10.11% or 48.88 million shares worth $293.29 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF. With 8.06 million shares estimated at $48.35 million under it, the former controlled 1.67% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF held about 1.57% of the shares, roughly 7.61 million shares worth around $47.99 million.

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