Rocket Lab USA (NASDAQ:RKLB) Stock Price Expected to Rise, KeyCorp Analyst Says

Rocket Lab USA (NASDAQ:RKLB) had its price target upped by equities research analysts at KeyCorp from $27.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the rocket manufacturer’s stock. KeyCorp’s target price would suggest a potential upside of 12.16% from the company’s current price.

A number of other brokerages also recently commented on RKLB. Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Citigroup raised their price target on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $28.53 on Wednesday. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $33.34. The stock has a market capitalization of $14.26 billion, a PE ratio of -77.11 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a 50-day simple moving average of $25.84 and a 200-day simple moving average of $14.68.

Insider Buying and Selling

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last quarter. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab USA

Several hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its holdings in Rocket Lab USA by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after purchasing an additional 334 shares in the last quarter. New Millennium Group LLC increased its position in Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after purchasing an additional 1,050 shares during the period. Smith Anglin Financial LLC raised its stake in shares of Rocket Lab USA by 10.3% during the 4th quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer’s stock worth $299,000 after buying an additional 1,096 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Rocket Lab USA by 14.0% in the 4th quarter. Spire Wealth Management now owns 11,400 shares of the rocket manufacturer’s stock valued at $290,000 after buying an additional 1,400 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds 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.