Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $30.00 at Bank of America

Rocket Lab USA (NASDAQ:RKLB) had its target price lifted by Bank of America from $10.00 to $30.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the rocket manufacturer’s stock.

RKLB has been the subject of several other research reports. Stifel Nicolaus lifted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp boosted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. JMP Securities began coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. Citigroup boosted their target price on Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.72.

Rocket Lab USA Trading Up 9.4 %

Shares of RKLB opened at $19.00 on Thursday. The stock has a fifty day moving average price of $10.38 and a two-hundred day moving average price of $6.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.43 and a current ratio of 2.58. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $22.55. The company has a market cap of $9.44 billion, a price-to-earnings ratio of -51.35 and a beta of 1.29.

Insider Buying and Selling

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The trade was a 4.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock valued at $906,059 over the last three months. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake in Rocket Lab USA by 4.4% in the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after acquiring an additional 1,709 shares during the period. Wellington Shields & Co. LLC boosted its position in shares of Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after buying an additional 2,503 shares during the period. Amalgamated Bank boosted its position in shares of Rocket Lab USA by 26.7% during the second 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 period. 180 Wealth Advisors LLC boosted its position in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after buying an additional 2,807 shares during the period. Finally, Lakeridge Wealth Management LLC boosted its position in shares of Rocket Lab USA by 30.0% during the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after buying an additional 3,000 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

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.