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Rocket Lab USA Inc. (NASDAQ: RKLB): Overvalued In Comparison To Others?

Rocket Lab USA Inc. (NASDAQ:RKLB) shares, rose in value on Friday, August 05, with the stock price down by -1.39% to the previous day’s close as strong demand from buyers drove the stock to $5.37.

Actively observing the price movement in the recent trading, the stock is buoying the session at $5.45, falling within a range of $5.085 and $5.595. Referring to stock’s 52-week performance, its high was $21.34, and the low was $3.53. On the whole, RKLB has fluctuated by 37.97% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.06, which is expected to increase to -$0.02 for fiscal year -$0.23 and then to about -$0.12 by fiscal year 2023.

Analysts have estimated the company’s revenue for the quarter at $49.24 million, with a low estimate of $26.94 million and a high estimate of $53.5 million. According to the average forecast, sales growth in current quarter could jump up 336.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $206.23 million, representing an increase of 231.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that RKLB’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RKLB currently trading nearly 23.85% and 24.06% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.06, while the 7-day volatility ratio is showing 7.16% which for the 30-day chart, stands at 6.21%. Furthermore, Rocket Lab USA Inc. (RKLB)’s average true range (ATR) is 0.28. The company’s stock has been forecasted to trade at an average price of $13.44 over the course of the next 52 weeks, with a low of $5.00 and a high of $20.00. Based on these price targets, the low is 6.89% off current price, whereas the price has to move -272.44% to reach the yearly target high. Additionally, analysts’ median price of $15.00 is likely to be welcomed by investors because it represents a decrease of -179.33% from the current levels.

Data on historical trading for Rocket Lab USA Inc. (NASDAQ:RKLB) indicates that the trading volumes over the past 10 days have averaged 2.78 million and over the past 3 months, they’ve averaged 4.69 million. According to company’s latest data on outstanding shares, there are 456.50 million shares outstanding.

Nearly 0.60% of Rocket Lab USA Inc.’s shares belong to company insiders and institutional investors own 62.50% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.59 million shares as on Jul 14, 2022, resulting in a short ratio of 3.32. According to the data, the short interest in Rocket Lab USA Inc. (RKLB) stood at 3.79% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 12.09 million. The stock has fallen by -55.62% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RKLB stock heading into the next quarter.

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