Wells Fargo & Company Lowers Rocket Lab USA (NASDAQ:RKLB) Price Target to $21.00

Rocket Lab USA (NASDAQ:RKLB) had its price objective decreased by Wells Fargo & Company from $22.00 to $21.00 in a research report sent to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the rocket manufacturer’s stock.

Other equities analysts have also recently issued reports about the company. Bank of America raised their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their price objective 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. KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Cantor Fitzgerald raised their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Citigroup dropped their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Five 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 company’s stock. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Rocket Lab USA Price Performance

NASDAQ RKLB opened at $20.40 on Monday. The company has a 50-day moving average price of $26.29 and a 200-day moving average price of $18.19. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $10.20 billion, a P/E ratio of -55.13 and a beta of 1.99.

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

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, the director now owns 132,294 shares in the company, valued at $3,126,107.22. The trade was a 7.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Hedge funds have recently bought and sold shares of the stock. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the 4th quarter worth $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA during the 4th quarter valued at about $40,000. Quarry LP purchased a new stake in shares of Rocket Lab USA during the 4th quarter valued at about $48,000. Finally, NewEdge Advisors LLC raised its position in shares of 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. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.