Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $32.00

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its target price upped by KeyCorp from $27.00 to $32.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the rocket manufacturer's stock.

RKLB has been the topic of several other reports. Bank of America lifted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a report on Thursday, December 19th. Stifel Nicolaus raised their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Cantor Fitzgerald upped 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 report on Thursday, November 14th. Finally, Wells Fargo & Company lifted their price objective on shares of 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. 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.28.

Rocket Lab USA Stock Down 0.4 %

Shares of NASDAQ:RKLB traded down $0.11 during midday trading on Wednesday, reaching $28.87. 12,834,740 shares of the company were exchanged, compared to its average volume of 20,423,008. The firm has a market cap of $14.43 billion, a PE ratio of -78.02 and a beta of 1.98. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The stock has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $14.58.

Insiders Place Their Bets

In related news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank Klein sold 35,968 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 in the last quarter. Corporate insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA during the third quarter worth $8,930,000. Geode Capital Management LLC increased its holdings in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Rocket Lab USA during the third quarter valued at about $2,651,000. Finally, Citigroup Inc. grew its holdings in shares of Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock worth $6,727,000 after purchasing an additional 220,432 shares during the last quarter. 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.