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

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

Other equities analysts also recently issued reports about the stock. BTIG Research initiated coverage on shares of Rocket Lab USA in a research note on Wednesday, June 26th. They issued a “neutral” rating on the stock. Citigroup raised their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Monday, September 30th. JMP Securities started coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group upped their target price on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.89.

Rocket Lab USA Trading Down 0.1 %

Shares of RKLB stock opened at $11.18 on Thursday. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $12.09. The company has a market capitalization of $5.55 billion, a PE ratio of -31.94 and a beta of 1.32. The firm has a 50 day moving average price of $8.24 and a two-hundred day moving average price of $5.84. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90.

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

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was 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 owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction 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 sale, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,521 shares of company stock valued at $906,059. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of hedge funds have recently made changes to their positions in RKLB. Advisors Asset Management Inc. raised its holdings in Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA during the second quarter valued at $46,000. Baxter Bros Inc. acquired a new position in shares of Rocket Lab USA during the second quarter worth $48,000. Amalgamated Bank grew its stake in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Rocket Lab USA in the second quarter valued at $67,000. 71.78% of the stock is owned by institutional investors and hedge funds.

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.