Rocket Lab’s (RKLB) Buy Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Rocket Lab (NASDAQ:RKLBFree Report) in a research report released on Monday morning, Marketbeat Ratings reports. The brokerage currently has a $105.00 target price on the rocket manufacturer’s stock, up from their prior target price of $90.00.

RKLB has been the topic of several other reports. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Zacks Research lowered Rocket Lab from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Morgan Stanley raised Rocket Lab from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $67.00 to $105.00 in a report on Friday, January 16th. Citigroup raised Rocket Lab from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Rocket Lab in a report on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.31.

Read Our Latest Analysis on RKLB

Rocket Lab Stock Performance

Shares of NASDAQ RKLB opened at $90.04 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61. The stock’s fifty day moving average price is $71.00 and its two-hundred day moving average price is $67.50. Rocket Lab has a one year low of $20.02 and a one year high of $99.58. The firm has a market cap of $51.27 billion, a price-to-earnings ratio of -243.34 and a beta of 2.20.

Insider Activity at Rocket Lab

In related news, CFO Adam C. Spice sold 62,744 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $4,366,354.96. Following the sale, the chief financial officer directly owned 1,296,824 shares of the company’s stock, valued at $90,245,982.16. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Merline Saintil sold 18,126 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.04, for a total value of $1,360,175.04. Following the completion of the sale, the director directly owned 261,903 shares in the company, valued at $19,653,201.12. This trade represents a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 233,449 shares of company stock worth $16,487,233 in the last quarter. 11.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab

Large investors have recently bought and sold shares of the business. Aventura Private Wealth LLC acquired a new stake in Rocket Lab in the fourth quarter valued at about $25,000. Mcguire Capital Advisors Inc. acquired a new stake in Rocket Lab in the fourth quarter valued at about $27,000. Zions Bancorporation National Association UT acquired a new stake in Rocket Lab in the fourth quarter valued at about $28,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Rocket Lab in the fourth quarter valued at about $29,000. Finally, Reflection Asset Management acquired a new stake in Rocket Lab in the fourth quarter valued at about $30,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab News Roundup

Here are the key news stories impacting Rocket Lab this week:

Rocket Lab Company Profile

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Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

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Analyst Recommendations for Rocket Lab (NASDAQ:RKLB)

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