Bank of America Increases Rocket Lab USA (NASDAQ:RKLB) Price Target to $30.00

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its price objective boosted by Bank of America from $10.00 to $30.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the rocket manufacturer's stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus upped their target price on Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Cantor Fitzgerald raised 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. KeyCorp lifted their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on Rocket Lab USA from $5.25 to $13.50 and gave the company an "equal weight" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.72.

Rocket Lab USA Trading Down 7.8 %

NASDAQ:RKLB traded down $1.47 on Thursday, reaching $17.36. 45,129,240 shares of the stock traded hands, compared to its average volume of 10,801,572. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of -48.86 and a beta of 1.29. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $22.55. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The company's 50 day moving average is $9.89 and its 200-day moving average is $6.70.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $104.81 million during the quarter, compared to the consensus estimate of $102.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 37.95%. Equities research analysts anticipate that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares of the company's stock, valued at $4,437,403.68. This trade represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now owns 42,353 shares of the company's stock, valued at approximately $292,235.70. This represents a 48.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock valued at $906,059 in the last ninety days. Corporate insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently modified their holdings of RKLB. Allworth Financial LP boosted its holdings in shares of Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer's stock worth $92,000 after purchasing an additional 8,992 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA in the second quarter valued at $46,000. Baxter Bros Inc. acquired a new position in Rocket Lab USA during the second quarter valued at $48,000. Smith Anglin Financial LLC purchased a new position in Rocket Lab USA in the third quarter valued at about $104,000. Finally, Advisors Asset Management Inc. boosted its stake 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 acquiring an additional 4,032 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other 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.