Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $14.72 Average PT from Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of research firms have issued reports on RKLB. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price target on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald upped their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Wells Fargo & Company lifted their target price on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, JMP Securities started coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company.

Insiders Place Their Bets

In related news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares in the company, valued at $9,195,308.40. This represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Arjun Kampani sold 28,563 shares of the business’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 value of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The trade was a 4.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,130,521 shares of company stock valued at $36,366,059 over the last 90 days. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after acquiring an additional 2,448,789 shares during the period. Ieq Capital LLC purchased a new position in Rocket Lab USA during the second quarter valued at $5,469,000. Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA in the third quarter worth $8,930,000. Geode Capital Management LLC increased its holdings in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Up 6.3 %

NASDAQ RKLB opened at $20.50 on Friday. The business has a 50 day moving average price of $10.64 and a 200-day moving average price of $7.03. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $22.55. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a market cap of $10.18 billion, a price-to-earnings ratio of -55.59 and a beta of 1.29.

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.