Rocket Lab USA (NASDAQ:RKLB) PT Raised to $12.00 at KeyCorp

Rocket Lab USA (NASDAQ:RKLB) had its price objective boosted by equities research analysts at KeyCorp from $11.00 to $12.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the rocket manufacturer’s stock. KeyCorp’s target price suggests a potential upside of 7.33% from the stock’s current price.

A number of other brokerages also recently weighed in on RKLB. BTIG Research started coverage on shares of Rocket Lab USA in a research report on Wednesday, June 26th. They issued a “neutral” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research report on Monday, September 30th. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $8.00 to $6.00 in a research note on Monday, July 15th. JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. Finally, Citigroup boosted their price objective on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Rocket Lab USA currently has a consensus rating of “Hold” and a consensus target price of $6.89.

Rocket Lab USA Stock Down 0.1 %

Shares of NASDAQ:RKLB opened at $11.18 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of -31.94 and a beta of 1.32. The company has a 50 day moving average of $8.24 and a 200-day moving average of $5.84. Rocket Lab USA has a one year low of $3.47 and a one year high of $12.09.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The business’s quarterly revenue was up 71.2% compared to the same quarter last year. On average, sell-side analysts forecast that Rocket Lab USA will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction 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 $4,437,403.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares in the company, valued at $4,437,403.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares in the company, valued at approximately $292,235.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,521 shares of company stock worth $906,059. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors have recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC grew its position in shares of Rocket Lab USA by 3.8% in the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after acquiring an additional 2,503 shares during the period. Amalgamated Bank increased its position in 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 last quarter. 180 Wealth Advisors LLC raised its stake in Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after buying an additional 2,807 shares during the period. Lakeridge Wealth Management LLC lifted its position in shares of Rocket Lab USA by 30.0% in the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after buying an additional 3,000 shares during the last quarter. Finally, Verus Capital Partners LLC increased its holdings in shares of Rocket Lab USA by 11.9% during the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock worth $159,000 after acquiring an additional 3,525 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.