Analysts Set Rocket Lab USA, Inc. (NASDAQ:RKLB) PT at $14.72

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $16.50.

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. KeyCorp increased their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Citigroup increased their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday.

Insider Buying and Selling

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased 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 worth $44,000 after acquiring an additional 4,032 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Rocket Lab USA in the second quarter worth about $46,000. Baxter Bros Inc. purchased a new stake in shares of Rocket Lab USA during the 2nd quarter valued at approximately $48,000. Amalgamated Bank lifted its stake in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in Rocket Lab USA in the 2nd quarter worth approximately $67,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Stock Up 10.9 %

Shares of Rocket Lab USA stock opened at $22.37 on Friday. The stock’s 50-day moving average is $11.20 and its 200 day moving average is $7.23. Rocket Lab USA has a one year low of $3.47 and a one year high of $22.55. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of -58.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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.