Rocket Lab USA Inc [NASDAQ: RKLB] closed the trading session at $4.85. The company report on January 31, 2024 at 4:20 PM that Rocket Lab Announces Proposed Offering of $275 Million Convertible Senior Notes.
Rocket Lab USA, Inc. (“Rocket Lab”, “we”, “us” or “our”) (Nasdaq: RKLB), a global leader in launch services and space systems, announced today that it has commenced a private offering of $275.0 million aggregate principal amount of convertible senior notes due 2029 (the “notes”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In connection with this offering, Rocket Lab expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including the date the notes are first issued, up to an additional $41.25 million aggregate principal amount of the notes. The offering of the notes is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The notes will be senior, unsecured obligations of Rocket Lab, will accrue interest payable semi-annually in arrears and will mature on February 1, 2029, unless earlier converted, redeemed or repurchased. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Rocket Lab will settle conversions by paying or delivering, as applicable, cash, shares of its common stock, par value $0.0001 per share (“common stock”), or a combination of cash and shares of its common stock, at Rocket Lab’s election. The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Rocket Lab’s option at any time, and from time to time, on or after February 1, 2027 and on or before the 40th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of the common stock exceeds 130% of the conversion price for a specified period of time and certain liquidity conditions have been satisfied. The redemption price will be equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the offering.
The stocks have a year to date performance of -12.30 percent and weekly performance of -3.58 percent. The stock has been moved at -33.20 percent over the last six months. The stock has performed -12.30 percent around the most recent 30 days and changed 15.48 percent over the most recent 3-months.
If compared to the average trading volume of 6.05M shares, RKLB reached to a volume of 4890840 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Rocket Lab USA Inc [RKLB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RKLB shares is $8.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RKLB stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
KeyBanc Capital Markets have made an estimate for Rocket Lab USA Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 17, 2024.
The Average True Range (ATR) for Rocket Lab USA Inc is set at 0.27, with the Price to Sales ratio for RKLB stock in the period of the last 12 months amounting to 9.97. The Price to Book ratio for the last quarter was 4.02, with the Price to Cash per share for the same quarter was set at 0.59.
RKLB stock trade performance evaluation
Rocket Lab USA Inc [RKLB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.58. With this latest performance, RKLB shares dropped by -12.30% in over the last four-week period, additionally sinking by -33.20% over the last 6 months – not to mention a drop of -0.61% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RKLB stock in for the last two-week period is set at 45.39, with the RSI for the last a single of trading hit 41.56, and the three-weeks RSI is set at 47.69 for Rocket Lab USA Inc [RKLB]. The present Moving Average for the last 50 days of trading for this stock 4.88, while it was recorded at 4.95 for the last single week of trading, and 5.12 for the last 200 days.
Rocket Lab USA Inc [RKLB]: An insightful look at the core fundamentals
Rocket Lab USA Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.33 and a Current Ratio set at 1.67.
Earnings per share (EPS) analysis for Rocket Lab USA Inc [RKLB] stock
With the latest financial reports released by the company, Rocket Lab USA Inc posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RKLB.
Rocket Lab USA Inc [RKLB]: Institutional Ownership
The top three institutional holders of RKLB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RKLB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RKLB stock with ownership which is approximately 5.8325%.
