Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $14.72 Consensus Target Price from Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $16.50.

Several research firms have recently weighed in on RKLB. JMP Securities began coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup increased their target price on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company upped their price objective on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Bank of America boosted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th.

Rocket Lab USA Trading Up 6.3 %

Shares of NASDAQ RKLB opened at $20.50 on Friday. 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 twelve month low of $3.47 and a twelve month high of $22.55. The company’s fifty day moving average is $10.64 and its 200-day moving average is $7.03. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of -55.59 and a beta of 1.29.

Insider Activity

In related news, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. This trade represents a 48.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,130,521 shares of company stock worth $36,366,059. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds have recently modified their holdings of RKLB. Janney Montgomery Scott LLC bought a new stake in shares of Rocket Lab USA in the 1st quarter valued at $192,000. ProShare Advisors LLC grew its stake in Rocket Lab USA by 10.2% during the first quarter. ProShare Advisors LLC now owns 50,879 shares of the rocket manufacturer’s stock worth $209,000 after purchasing an additional 4,713 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Rocket Lab USA by 2.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer’s stock worth $1,209,000 after purchasing an additional 6,534 shares in the last quarter. Vanguard Group Inc. lifted its stake in Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares during the period. Finally, Advisors Asset Management Inc. grew its position 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 buying an additional 4,032 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.