Rocket Lab USA (NASDAQ:RKLB) Given New $32.00 Price Target at KeyCorp

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

RKLB has been the topic of a number of other reports. Cantor Fitzgerald raised 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. Citigroup raised their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Stifel Nicolaus boosted 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. Bank of America raised 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, TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA currently has an average rating of "Moderate Buy" and a consensus price target of $22.28.

Rocket Lab USA Stock Performance

Shares of RKLB traded down $0.46 during trading hours on Wednesday, hitting $28.41. The company had a trading volume of 14,547,524 shares, compared to its average volume of 20,105,377. The business has a fifty day moving average of $25.84 and a 200-day moving average of $14.68. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of -76.70 and a beta of 1.98. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $33.34.

Insider Buying and Selling

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the transaction, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares of the company's stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock worth $38,168,400 in the last three months. 13.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RKLB. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA in the 4th quarter valued at $40,000. New Millennium Group LLC lifted its stake in shares of Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock valued at $52,000 after buying an additional 1,050 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at about $76,000. Avior Wealth Management LLC increased its position in shares of Rocket Lab USA by 478.6% during the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer's stock worth $177,000 after acquiring an additional 5,762 shares in the last quarter. Finally, Roman Butler Fullerton & Co. acquired a new stake in shares of Rocket Lab USA in the 4th quarter worth about $191,000. 71.78% of the stock is 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.