Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $17.44 Consensus PT from Analysts

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.44.

Several equities analysts have recently issued reports on the company. 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. Cantor Fitzgerald boosted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Rocket Lab USA Stock Down 2.1 %

Shares of Rocket Lab USA stock opened at $27.36 on Monday. The business has a fifty day simple moving average of $22.23 and a 200 day simple moving average of $12.33. The stock has a market cap of $13.68 billion, a PE ratio of -73.94 and a beta of 1.98. 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 Buying and Selling at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction 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 sale, the director now owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction on 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 transaction, 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 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 90 days. 13.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RKLB. Geode Capital Management LLC raised its stake in shares of Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares in the last quarter. American Century Companies Inc. lifted its stake in Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after purchasing an additional 284,360 shares during the last quarter. Ieq Capital LLC bought a new position in Rocket Lab USA during the second quarter worth about $5,469,000. Finally, Mizuho Markets Americas LLC acquired a new position in Rocket Lab USA during the third quarter worth approximately $8,930,000. 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.