Analysts Set Rocket Lab USA, Inc. (NASDAQ:RKLB) PT at $22.28

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.50.

A number of equities research analysts recently issued reports on RKLB shares. Citigroup decreased their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday. KeyCorp decreased their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Stifel Nicolaus lifted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th.

Insider Buying and Selling

In related news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares in the company, valued at $3,126,107.22. This represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 13.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA during the 4th quarter valued at about $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA during the 4th quarter valued at about $40,000. Quarry LP acquired a new position in Rocket Lab USA during the 4th quarter valued at about $48,000. Finally, NewEdge Advisors LLC increased its position in Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after buying an additional 1,750 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Price Performance

Shares of RKLB stock opened at $18.66 on Tuesday. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a market capitalization of $9.33 billion, a P/E ratio of -50.43 and a beta of 1.99. The stock has a 50 day moving average price of $26.57 and a 200 day moving average price of $18.09.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. As a group, sell-side analysts predict that Rocket Lab USA will post -0.38 earnings per share for the current year.

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.