Rocket Lab USA Inc (NASDAQ: RKLB) Surprises The Bears, Looks Good Going Forward

In the last trading session, 5.82 million shares of the Rocket Lab USA Inc (NASDAQ:RKLB) were traded, and its beta was 1.18. Most recently the company’s share price was $4.08, and it changed around -$0.03 or -0.73% from the last close, which brings the market valuation of the company to $2.00B. RKLB currently trades at a discount to its 52-week high of $8.05, offering almost -97.3% off that amount. The share price’s 52-week low was $3.62, which indicates that the current value has risen by an impressive 11.27% since then. We note from Rocket Lab USA Inc’s average daily trading volume that its 10-day average is 8.6 million shares, with the 3-month average coming to 8.74 million.

Rocket Lab USA Inc (NASDAQ:RKLB) trade information

Instantly RKLB has showed a red trend with a performance of -0.73% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -26.22% year-to-date, but still up 0.74% over the last five days. On the other hand, Rocket Lab USA Inc (NASDAQ:RKLB) is -11.01% down in the 30-day period. We can see from the shorts that 50.7 million shares have been sold at a short interest cover period of 6.42 day(s).

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The consensus price target as assigned by Wall Street analysts is $8.43, which translates to bulls needing to increase their stock price by 51.6% from its current value. Analyst projections state that RKLB is forecast to be at a low of $5 and a high of $12.

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 -5.99 percent over the past six months and at a -5.26% annual growth rate that is well below the industry average of 14.40%. The year-over-year growth rate is expected to be 76.50%, up from the previous year.

Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $94.74 million in revenue for the current quarter. 8 analysts expect Rocket Lab USA Inc to make $105.65 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $54.9 million and $61.79 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 72.60%. Forecasts for the next quarter put sales growth at 71.00%.

RKLB Dividends

Rocket Lab USA Inc’s next quarterly earnings report is expected to be released on January 31.

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

Upon looking at major shareholders, it appears that insiders hold 10.78% of Rocket Lab USA Inc shares, and 55.45% of them are in the hands of institutional investors. The stock currently has a share float of 62.15%. Rocket Lab USA Inc stock is held by 287 institutions, with VK Services, LLC being the largest institutional investor. By Jun 29, 2023, it held 15.47% of the shares, which is about 74.75 million shares worth $448.52 million.

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

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