Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) Target Price at $23.06

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) have received an average rating of "Moderate Buy" from the twelve brokerages that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $23.06.

RKLB has been the subject of a number of recent research reports. Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, February 28th. KeyCorp lowered their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. 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 boosted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Finally, Morgan Stanley raised their price target on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th.

Rocket Lab USA Price Performance

Rocket Lab USA stock traded up $0.20 during trading hours on Friday, hitting $18.62. 25,420,347 shares of the company traded hands, compared to its average volume of 14,687,211. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $33.34. The firm has a market cap of $8.45 billion, a P/E ratio of -50.32 and a beta of 2.06. The firm's 50-day simple moving average is $23.82 and its two-hundred day simple moving average is $19.47. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

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

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares of the company's stock, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently modified their holdings of the business. Wellington Management Group LLP acquired a new position in shares of Rocket Lab USA during the fourth quarter worth about $17,261,000. California State Teachers Retirement System raised its stake in shares of Rocket Lab USA by 7.1% during the 4th quarter. California State Teachers Retirement System now owns 303,732 shares of the rocket manufacturer's stock worth $7,736,000 after purchasing an additional 20,241 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $5,334,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Rocket Lab USA during the fourth quarter worth $4,134,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Rocket Lab USA in the fourth quarter valued at $84,000. 71.78% of the stock is currently owned by institutional investors.

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.