Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $22.00

Rocket Lab USA (NASDAQ:RKLB) had its price target raised by Stifel Nicolaus from $15.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the rocket manufacturer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 0.92% from the company’s current price.

Other research analysts also recently issued reports about the stock. JMP Securities began coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. Citigroup increased their price target on shares of Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. KeyCorp lifted their price target 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. The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus target price of $9.53.

Rocket Lab USA Trading Up 48.7 %

Shares of RKLB stock traded up $7.14 on Wednesday, hitting $21.80. 68,654,836 shares of the company’s stock traded hands, compared to its average volume of 10,407,830. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of -60.08 and a beta of 1.29. The company’s fifty day simple moving average is $9.47 and its 200 day simple moving average is $6.53. Rocket Lab USA has a one year low of $3.47 and a one year high of $22.55.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Tuesday, November 12th. The rocket manufacturer reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 37.95%. The company had revenue of $104.81 million during the quarter, compared to analyst estimates of $102.74 million. Equities analysts forecast that Rocket Lab USA will post -0.39 EPS for the current year.

Insider Activity at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now directly owns 42,353 shares in the company, valued at $292,235.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after acquiring an additional 4,032 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the second quarter valued at approximately $46,000. Baxter Bros Inc. purchased a new position in Rocket Lab USA during the 2nd quarter worth $48,000. Amalgamated Bank grew its position in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Rocket Lab USA in the second quarter valued at approximately $67,000. 71.78% of the stock is currently owned by institutional investors.

About Rocket Lab USA

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.