Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $14.72 Consensus Price Target from Brokerages

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.72.

A number of analysts have recently commented on the company. Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday. JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a "market perform" rating for the company. KeyCorp lifted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price target on Rocket Lab USA from $5.25 to $13.50 and gave the company an "equal weight" rating in a research report on Wednesday.

Rocket Lab USA Stock Up 9.4 %

Shares of NASDAQ RKLB traded up $1.64 during midday trading on Friday, hitting $19.00. 42,280,047 shares of the company's stock were exchanged, compared to its average volume of 20,334,120. The company has a market cap of $9.44 billion, a PE ratio of -51.35 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.43. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $22.55. The firm's fifty day simple moving average is $10.38 and its 200-day simple moving average is $6.90.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now owns 42,353 shares of the company's stock, valued at $292,235.70. This trade represents a 48.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the business's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now directly owns 637,558 shares of the company's stock, valued at $4,437,403.68. This represents a 4.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock worth $906,059 in the last 90 days. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer's stock worth $44,000 after purchasing an additional 4,032 shares during the period. International Assets Investment Management LLC acquired a new position in Rocket Lab USA during the second quarter valued at approximately $46,000. Baxter Bros Inc. purchased a new stake in Rocket Lab USA during the second quarter worth approximately $48,000. Amalgamated Bank increased its position in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock worth $58,000 after acquiring an additional 2,538 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA in the 2nd quarter valued at $67,000. 71.78% of the stock is currently 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.