Wells Fargo Sticks to Its Hold Rating for Rocket Lab USA (RKLB)
Wells Fargo analyst David E. Strauss maintained a Hold rating on Rocket Lab USA yesterday and set a price target of $60.00. The company’s shares closed yesterday at $105.05.
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According to TipRanks, E. Strauss is a 5-star analyst with an average return of 12.2% and a 64.91% success rate. E. Strauss covers the Industrials sector, focusing on stocks such as Boeing, Lockheed Martin, and York Space Systems, Inc..
Currently, the analyst consensus on Rocket Lab USA is a Moderate Buy with an average price target of $103.70.
Based on Rocket Lab USA’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $200.35 million and a GAAP net loss of $45.02 million. In comparison, last year the company earned a revenue of $122.57 million and had a GAAP net loss of $60.62 million
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RKLB in relation to earlier this year. Earlier this month, Alexander R Slusky, a Director at RKLB sold 40,000.00 shares for a total of $4,944,000.00.
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