Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $13.50

Rocket Lab USA (NASDAQ:RKLB) had its target price hoisted by The Goldman Sachs Group from $12.00 to $13.50 in a report issued on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the rocket manufacturer’s stock.

Several other equities analysts have also recently commented on RKLB. Stifel Nicolaus boosted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald boosted their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Wells Fargo & Company increased their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus target price of $18.61.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $24.00 on Thursday. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $30.26. The stock’s 50-day simple moving average is $24.05 and its 200 day simple moving average is $13.32. 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 stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of -64.86 and a beta of 1.98.

Insiders Place Their Bets

In related news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares in the company, valued at $12,297,525. This represents a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Rocket Lab USA during the second quarter worth about $76,000. Allworth Financial LP grew its stake in shares of Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 8,992 shares during the last quarter. Smith Anglin Financial LLC purchased a new position in Rocket Lab USA during the 3rd quarter valued at about $104,000. Finally, Xponance Inc. raised its position in Rocket Lab USA by 29.1% during the 2nd quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock valued at $106,000 after purchasing an additional 4,997 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.