Citigroup Issues Positive Forecast for Rocket Lab USA (NASDAQ:RKLB) Stock Price

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its target price boosted by Citigroup from $22.00 to $35.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the rocket manufacturer's stock.

Several other brokerages also recently commented on RKLB. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 11th. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Bank of America lifted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus increased their target price 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. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and an average price target of $20.06.

Rocket Lab USA Stock Down 5.3 %

Shares of RKLB traded down $1.65 during trading hours on Tuesday, hitting $29.62. 27,849,462 shares of the company were exchanged, compared to its average volume of 21,029,084. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a market cap of $14.81 billion, a PE ratio of -80.05 and a beta of 1.98. The firm's 50 day moving average is $24.56 and its 200-day moving average is $13.71. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $31.64.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares of the company's stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on 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 transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock valued at $38,168,400 in the last 90 days. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. DRW Securities LLC bought a new position in shares of Rocket Lab USA in the second quarter valued at approximately $125,000. Xponance Inc. boosted its holdings in shares of Rocket Lab USA by 29.1% in the 2nd quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer's stock worth $106,000 after acquiring an additional 4,997 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Rocket Lab USA by 21.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer's stock worth $985,000 after acquiring an additional 35,849 shares during the last quarter. Finally, Scientech Research LLC increased its holdings in Rocket Lab USA by 135.4% during the 2nd quarter. Scientech Research LLC now owns 182,520 shares of the rocket manufacturer's stock valued at $876,000 after purchasing an additional 104,980 shares in the last quarter. Institutional investors 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.