Fintel reports that on September 12, 2024, JMP Securities initiated coverage of Rocket Lab USA (NasdaqCM:RKLB) with a Market Perform recommendation.
Analyst Price Forecast Suggests 14.17% Upside
As of August 26, 2024, the average one-year price target for Rocket Lab USA is $7.63/share. The forecasts range from a low of $4.54 to a high of $10.50. The average price target represents an increase of 14.17% from its latest reported closing price of $6.68 / share.
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The projected annual revenue for Rocket Lab USA is 468MM, an increase of 43.21%. The projected annual non-GAAP EPS is -0.13.
What is the Fund Sentiment?
There are 400 funds or institutions reporting positions in Rocket Lab USA. This is an increase of 5 owner(s) or 1.27% in the last quarter. Average portfolio weight of all funds dedicated to RKLB is 0.58%, an increase of 20.26%. Total shares owned by institutions decreased in the last three months by 0.85% to 285,675K shares. 
The put/call ratio of RKLB is 0.43, indicating a bullish outlook.
What are Other Shareholders Doing?
Vk Services holds 52,027K shares representing 10.48% ownership of the company. In its prior filing, the firm reported owning 63,753K shares , representing a decrease of 22.54%. The firm increased its portfolio allocation in RKLB by 27.72% over the last quarter.
Deer Management Co. holds 40,739K shares representing 8.20% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,478K shares representing 2.11% ownership of the company. In its prior filing, the firm reported owning 9,621K shares , representing an increase of 8.18%. The firm increased its portfolio allocation in RKLB by 23.68% over the last quarter.
Vector Capital Management holds 9,623K shares representing 1.94% ownership of the company. No change in the last quarter.
XAR - SPDR(R) S&P(R) Aerospace & Defense ETF holds 8,907K shares representing 1.79% ownership of the company. In its prior filing, the firm reported owning 17,922K shares , representing a decrease of 101.22%. The firm decreased its portfolio allocation in RKLB by 41.85% over the last quarter.
Rocket Lab USA Background Information
(This description is provided by the company.)
Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, spacecraft components, satellites and other spacecraft and on-orbit management solutions that make it faster, easier and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle and the Photon satellite platform and is developing the Neutron 8-ton payload class launch vehicle. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 105 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s Photon spacecraft platform has been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand, one of which is currently operational, and a second launch site in Virginia, USA which is expected to become operational by the end of 2021.
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