Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $22.28 Average Price Target from Analysts

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.61.

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 11th. KeyCorp cut their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Bank of America increased their price objective 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. Finally, Stifel Nicolaus increased their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th.

Rocket Lab USA Stock Up 3.1 %

Rocket Lab USA stock traded up $0.61 during midday trading on Tuesday, hitting $20.44. The stock had a trading volume of 37,408,315 shares, compared to its average volume of 20,412,555. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The stock has a market cap of $10.22 billion, a P/E ratio of -55.25 and a beta of 1.99. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $33.34. The business has a fifty day moving average price of $26.71 and a 200 day moving average price of $18.00.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results 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 for 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%. Research analysts predict that Rocket Lab USA will post -0.38 EPS for the current year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares of the company's stock, valued at $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nina Armagno sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now directly owns 132,294 shares in the company, valued at $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Rocket Lab USA during the fourth quarter worth $4,134,000. University of Texas Texas AM Investment Management Co. acquired a new position in Rocket Lab USA during the fourth quarter worth $84,000. Sunbelt Securities Inc. increased its position in Rocket Lab USA by 911.9% during the fourth quarter. Sunbelt Securities Inc. now owns 5,717 shares of the rocket manufacturer's stock worth $150,000 after buying an additional 5,152 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Rocket Lab USA by 30.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,790 shares of the rocket manufacturer's stock worth $17,391,000 after buying an additional 159,642 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Rocket Lab USA during the fourth quarter worth $22,331,000. 71.78% of the stock is owned by institutional investors and hedge funds.

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.