Rocket Lab USA (NASDAQ:RKLB) Releases Earnings Results, Beats Expectations By $0.02 EPS

Rocket Lab USA (NASDAQ:RKLB) announced its quarterly earnings data on Monday. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02, Briefing.com reports. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The business had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $94.98 million. During the same period last year, the firm earned ($0.10) earnings per share. The company’s revenue for the quarter was up 69.0% compared to the same quarter last year. Rocket Lab USA updated its Q2 2024 guidance to EPS.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $4.06 on Tuesday. The stock’s 50-day simple moving average is $4.01 and its 200-day simple moving average is $4.45. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $8.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.13 and a quick ratio of 1.65.

Analyst Ratings Changes

RKLB has been the topic of a number of analyst reports. Citigroup reaffirmed a “buy” rating and issued a $6.00 price target on shares of Rocket Lab USA in a research report on Monday, February 12th. KeyCorp started coverage on shares of Rocket Lab USA in a research note on Wednesday, January 17th. They set an “overweight” rating and a $8.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.46.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the sale, the general counsel now owns 695,147 shares in the company, valued at $2,954,374.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 67,160 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the sale, the chief financial officer now directly owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate insiders.

About Rocket Lab USA

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.