KeyCorp Lowers Rocket Lab USA (NASDAQ:RKLB) Price Target to $28.00

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its price objective decreased by KeyCorp from $32.00 to $28.00 in a report issued on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the rocket manufacturer's stock.

RKLB has been the subject of a number of other reports. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Stifel Nicolaus lifted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Citigroup lifted their target price on Rocket Lab USA from $22.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company lifted 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. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.61.

Rocket Lab USA Trading Up 3.1 %

Shares of RKLB traded up $0.61 during midday trading on Friday, hitting $20.44. 37,408,315 shares of the stock were exchanged, compared to its average volume of 20,412,555. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $33.34. The stock has a fifty day simple moving average of $26.71 and a 200 day simple moving average of $18.00. The firm has a market cap of $10.22 billion, a P/E ratio of -55.25 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly 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 firm had revenue of $132.39 million for the quarter, compared to analysts' expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. On average, research analysts anticipate that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the sale, the director now owns 132,294 shares in the company, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. 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 value of $1,150,000.00. Following the sale, the director now owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in RKLB. Creative Planning increased its position in shares of Rocket Lab USA by 39.1% during the third quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer's stock worth $813,000 after purchasing an additional 23,504 shares in the last quarter. Allworth Financial LP increased its position in Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer's stock valued at $92,000 after acquiring an additional 8,992 shares during the period. Van ECK Associates Corp increased its position in Rocket Lab USA by 33.1% in the 3rd quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer's stock valued at $1,275,000 after acquiring an additional 32,618 shares during the period. AlphaCentric Advisors LLC acquired a new position in Rocket Lab USA in the 3rd quarter valued at about $146,000. Finally, Concurrent Investment Advisors LLC acquired a new position in Rocket Lab USA in the 3rd quarter valued at about $132,000. Institutional investors and hedge funds own 71.78% of the company's stock.

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.