Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $17.44 Consensus Price Target from Brokerages

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.44.

A number of analysts recently issued reports on the company. KeyCorp lifted their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup raised their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Wells Fargo & Company raised their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Stifel Nicolaus raised their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group raised their target price on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $26.91 on Monday. The stock has a market cap of $13.45 billion, a PE ratio of -72.73 and a beta of 1.98. The business has a fifty day simple moving average of $22.88 and a 200-day simple moving average of $12.58. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $30.26.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock valued at $38,168,400 in the last three months. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

A number of large investors have recently made changes to their positions in RKLB. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Rocket Lab USA by 54.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the rocket manufacturer’s stock worth $282,000 after purchasing an additional 20,636 shares during the period. Principal Financial Group Inc. boosted its stake in Rocket Lab USA by 23.4% in the 2nd quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock worth $226,000 after purchasing an additional 8,928 shares during the period. CIBC Asset Management Inc acquired a new position in Rocket Lab USA in the 2nd quarter worth $67,000. Rhumbline Advisers boosted its stake in Rocket Lab USA by 24.2% in the 2nd quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock worth $2,305,000 after purchasing an additional 93,447 shares during the period. Finally, National Bank of Canada FI boosted its stake in Rocket Lab USA by 97.8% in the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

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.