Rocket Lab USA Inc. (NASDAQ: RKLB) stock jumped 2.43% on Wednesday to $4.63 against a previous-day closing price of $4.52. With 4.32 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.36 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $4.6500 whereas the lowest price it dropped to was $4.3600. The 52-week range on RKLB shows that it touched its highest point at $7.29 and its lowest point at $3.48 during that stretch. It currently has a 1-year price target of $8.82.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RKLB was up-trending over the past week, with a rise of 2.89%, but this was up by 21.52% over a month. Three-month performance surged to 1.76% while six-month performance rose 7.18%. The stock gained 1.09% in the past year, while it has gained 22.81% so far this year. A look at the trailing 12-month EPS for RKLB yields -0.33 with Next year EPS estimates of -0.18. For the next quarter, that number is -0.09. This implies an EPS growth rate of -11.90% for this year and 43.80% for next year.
Float and Shares Shorts:
At present, 476.20 million RKLB shares are outstanding with a float of 372.96 million shares on hand for trading. On Apr 27, 2023, short shares totaled 24.63 million, which was 5.16% higher than short shares on Mar 30, 2023. In addition to Mr. Peter Beck as the firm’s Founder, Chairman, Pres & CEO, Mr. Adam C. Spice serves as its CFO, Sec. & Treasurer.
Through their ownership of 55.85% of RKLB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 29.02% of RKLB, in contrast to 15.83% held by mutual funds. Shares owned by individuals account for 12.02%. As the largest shareholder in RKLB with 6.13% of the stake, The Future Fund Management Agency holds 29,260,021 shares worth 29,260,021. A second-largest stockholder of RKLB, The Vanguard Group, Inc., holds 23,992,555 shares, controlling over 5.02% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in RKLB, holding 16,150,861 shares or 3.38% stake. With a 2.38% stake in RKLB, the SPDR S&P Aerospace & Defense ETF is the largest stakeholder. A total of 11,374,396 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.69% of RKLB stock, is the second-largest Mutual Fund holder. It holds 8,062,535 shares valued at 31.61 million. Vanguard Small Cap Index Fund holds 1.43% of the stake in RKLB, owning 6,828,587 shares worth 26.77 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, RKLB reported revenue of $55.47M and operating income of -$33.16M. The EBITDA in the recently reported quarter was -$25.53M and diluted EPS was -$0.08.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RKLB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RKLB analysts setting a high price target of $13.00 and a low target of $4.55, the average target price over the next 12 months is $8.82. Based on these targets, RKLB could surge 180.78% to reach the target high and fall by -1.73% to reach the target low. Reaching the average price target will result in a growth of 90.5% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded RKLB stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 86,721 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 3,547,489 while 19,069,109 shares were sold.