Rocket Lab USA Inc (NASDAQ: RKLB) stock fell -0.24% on Friday to $4.21 against a previous-day closing price of $4.22. With 3.9 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.16 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $4.3050 whereas the lowest price it dropped to was $4.1500. The 52-week range on RKLB shows that it touched its highest point at $8.05 and its lowest point at $3.48 during that stretch. It currently has a 1-year price target of $8.14. Beta for the stock currently stands at 1.17.
Price Performance and Earnings:
Three-month performance dropped to -28.40% while six-month performance fell -9.85%. The stock lost -10.14% in the past year, while it has gained 11.67% so far this year. A look at the trailing 12-month EPS for RKLB yields -0.35 with Next year EPS estimates of -0.24. For the next quarter, that number is -0.08. This implies an EPS growth rate of 17.36% for this year and -1.34% for next year.
Float and Shares Shorts:
At present, 475.36 million RKLB shares are outstanding with a float of 292.94 million shares on hand for trading. On Oct 30, 2023, short shares totaled 22.04 million, which was 4.54% higher than short shares on Sep 28, 2023. In addition to Mr. Peter Beck as the firm’s Founder, Chairman, President & CEO, Mr. Adam Spice serves as its CFO, Secretary & Treasurer.
Institutional Ownership:
Other institutions hold 27.95% of RKLB, in contrast to 16.48% held by mutual funds. Shares owned by individuals account for 14.11%. As the largest shareholder in RKLB with 6.05% 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 25,289,436 shares, controlling over 5.23% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in RKLB, holding 20,829,250 shares or 4.31% stake. With a 2.27% stake in RKLB, the SPDR S&P Aerospace & Defense ETF is the largest stakeholder. A total of 10,958,601 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.72% of RKLB stock, is the second-largest Mutual Fund holder. It holds 8,305,979 shares valued at 35.13 million. Vanguard Small Cap Index Fund holds 1.42% of the stake in RKLB, owning 6,863,889 shares worth 29.03 million.
Analysts Ratings:
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 $12.00 and a low target of $5.00, the average target price over the next 12 months is $8.14. Based on these targets, RKLB could surge 185.04% to reach the target high and rise by 18.76% to reach the target low. Reaching the average price target will result in a growth of 93.35% from current levels.
Summary of Insider Activity:
Insiders traded RKLB stock several times over the past three months with 2 Buys and 4 Sells. In these transactions, 98,599 shares were bought while 3,720,142 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 485,985 while 4,297,564 shares were sold.
