Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) PT at $22.72

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $22.72.

A number of research analysts recently issued reports on RKLB shares. Stifel Nicolaus increased their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Citigroup cut their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. KeyCorp decreased 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 research report on Friday, February 28th. Finally, Wells Fargo & Company lowered their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $19.74 on Wednesday. The company has a market capitalization of $8.95 billion, a P/E ratio of -53.35 and a beta of 2.08. Rocket Lab USA has a 52 week low of $3.49 and a 52 week high of $33.34. 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 company’s 50 day moving average price is $20.32 and its two-hundred day moving average price is $20.94.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, analysts expect that Rocket Lab USA will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC raised its stake in Rocket Lab USA by 356.4% in the 1st quarter. FNY Investment Advisers LLC now owns 5,249 shares of the rocket manufacturer’s stock valued at $93,000 after acquiring an additional 4,099 shares during the period. Janney Montgomery Scott LLC boosted its position in Rocket Lab USA by 6.9% during the first quarter. Janney Montgomery Scott LLC now owns 42,022 shares of the rocket manufacturer’s stock worth $751,000 after purchasing an additional 2,715 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Rocket Lab USA by 5.3% in the first quarter. Handelsbanken Fonder AB now owns 85,100 shares of the rocket manufacturer’s stock valued at $1,522,000 after purchasing an additional 4,300 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Rocket Lab USA by 2,186.7% in the first quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer’s stock valued at $6,321,000 after purchasing an additional 338,062 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Rocket Lab USA by 25.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 118,237 shares of the rocket manufacturer’s stock worth $2,114,000 after buying an additional 24,213 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.