Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $31.00

Rocket Lab USA (NASDAQ:RKLB) had its price target raised by equities research analysts at Stifel Nicolaus from $26.00 to $31.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the rocket manufacturer’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 15.11% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald increased their price target 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. JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. Wells Fargo & Company boosted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and an average price target of $18.44.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock traded down $1.02 on Wednesday, hitting $26.93. The stock had a trading volume of 10,755,849 shares, compared to its average volume of 17,521,004. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $30.26. The company’s 50 day moving average price is $21.91 and its 200 day moving average price is $12.22. The stock has a market cap of $13.46 billion, a price-to-earnings ratio of -72.78 and a beta of 1.98.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA 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 sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Geode Capital Management LLC raised its holdings in shares of Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after buying an additional 532,207 shares in the last quarter. American Century Companies Inc. boosted its position in Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Rocket Lab USA during the second quarter valued at about $5,469,000. Finally, Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA during the third quarter worth about $8,930,000. 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.