The Goldman Sachs Group Forecasts Strong Price Appreciation for Rocket Lab USA (NASDAQ:RKLB) Stock

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its price objective raised by The Goldman Sachs Group from $12.00 to $13.50 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the rocket manufacturer's stock.

RKLB has been the subject of several other research reports. Citigroup upped their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, November 18th. Stifel Nicolaus upped their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company increased their price target on Rocket Lab USA from $13.50 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.61.

Rocket Lab USA Stock Performance

RKLB stock traded down $0.23 during trading on Thursday, reaching $24.64. 10,823,794 shares of the company's stock were exchanged, compared to its average volume of 16,941,488. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $30.26. The firm has a market cap of $12.32 billion, a PE ratio of -66.59 and a beta of 1.98. The company's fifty day moving average price is $23.84 and its 200-day moving average price is $13.13. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the sale, the general counsel now owns 608,996 shares in the company, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company's stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock valued at $38,168,400 in the last three months. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of large investors have recently made changes to their positions in RKLB. Ariose Capital Management Ltd purchased a new position in Rocket Lab USA during the 4th quarter worth approximately $1,871,000. Udine Wealth Management Inc. purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at $1,342,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Rocket Lab USA by 3.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer's stock worth $2,340,000 after buying an additional 3,479 shares during the period. Connective Portfolio Management LLC purchased a new position in shares of Rocket Lab USA during the fourth quarter valued at $586,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Rocket Lab USA during the fourth quarter valued at $1,758,000. 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.