Stifel Nicolaus Issues Positive Forecast for Rocket Lab USA (NASDAQ:RKLB) Stock Price

Rocket Lab USA (NASDAQ:RKLB) had its target price increased by equities researchers at Stifel Nicolaus from $26.00 to $31.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the rocket manufacturer’s stock. Stifel Nicolaus’ price target suggests a potential upside of 13.30% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. KeyCorp raised their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald raised their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Citigroup lifted their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average target price of $18.44.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $27.36 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $22.57 and its 200 day moving average price is $12.43. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $30.26. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of -73.94 and a beta of 1.98.

Insider Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the transaction, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the sale, the general counsel now owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RKLB. Allworth Financial LP boosted its position in shares of Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after buying an additional 8,992 shares during the period. Smith Anglin Financial LLC purchased a new position in Rocket Lab USA in the 3rd quarter worth approximately $104,000. Franklin Resources Inc. acquired a new stake in Rocket Lab USA in the third quarter valued at approximately $107,000. Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Rocket Lab USA during the third quarter valued at approximately $107,000. Finally, Arete Wealth Advisors LLC acquired a new position in shares of Rocket Lab USA during the third quarter worth $106,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.