Rocket Lab USA Inc (RKLB): Why Is Stock So Good?

In the last trading session, 15.39 million Rocket Lab USA Inc (NASDAQ:RKLB) shares changed hands as the company’s beta touched 1.21. With the company’s per share price at $4.72 changed hands at $0.38 or 8.76% during last session, the market valuation stood at $2.29B. RKLB’s last price was a discount, traded about -70.55% off its 52-week high of $8.05. The share price had its 52-week low at $3.62, which suggests the last value was 23.31% up since then. When we look at Rocket Lab USA Inc’s average trading volume, we note the 10-day average is 16.46 million shares, with the 3-month average coming to 1.87.

Rocket Lab USA Inc (NASDAQ:RKLB) trade information

Instantly RKLB was in green as seen at the end of in last trading. With action 15.97%, the performance over the past five days has been green. The jump to weekly highs of 4.79 added 8.76% to the stock’s daily price. The company’s shares are showing year-to-date downside of -14.65%, with the 5-day performance at 15.97% in the green. However, in the 30-day time frame, Rocket Lab USA Inc (NASDAQ:RKLB) is -8.53% down. Looking at the short shares, we see there were 22.44 million shares sold at short interest cover period of 4.35 days.

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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 -25.32% over the past 6 months, a -27.59% in annual growth rate that is considerably lower than the industry average of 5.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Rocket Lab USA Inc will fall -25.00%, while the growth in revenue is estimated to hit 10.00% for the next quarter. Year-over-year growth is forecast to reach 17.70% up from the last financial year.

Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $63.41 million. 6 analysts are of the opinion that Rocket Lab USA Inc’s revenue for the quarter ending Mar 2024 will be $97.78 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 22.50%. The estimates for the next quarter sales put growth at 78.10%.

The 2024 estimates are for Rocket Lab USA Inc earnings to increase by 18.09%.

RKLB Dividends

Rocket Lab USA Inc is expected to release its next quarterly earnings report on February 27.

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

If we look at who the major shareholders are, we find that insiders hold 10.88% of Rocket Lab USA Inc shares while 53.70% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 60.26%. There are 53.70% 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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