Rocket Lab USA (NASDAQ:RKLB) Given New $28.00 Price Target at KeyCorp

Rocket Lab USA (NASDAQ:RKLB) had its price target reduced by KeyCorp from $32.00 to $28.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the rocket manufacturer’s stock.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Citigroup lifted their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Finally, Bank of America lifted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Five 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.61.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $20.44 on Friday. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a market cap of $10.22 billion, a P/E ratio of -55.25 and a beta of 1.99. The firm’s fifty day moving average is $26.71 and its two-hundred day moving average is $17.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. As a group, analysts anticipate that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently modified their holdings of RKLB. Creative Planning raised its holdings in shares of Rocket Lab USA by 39.1% in the 3rd quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer’s stock valued at $813,000 after purchasing an additional 23,504 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 8,992 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Rocket Lab USA by 33.1% in the 3rd quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer’s stock valued at $1,275,000 after purchasing an additional 32,618 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $146,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $132,000. 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.