Rocket Lab USA (NASDAQ:RKLB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its target price increased by The Goldman Sachs Group from $5.00 to $12.00 in a report published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the rocket manufacturer's stock.

RKLB has been the subject of several other research reports. KeyCorp raised their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Stifel Nicolaus boosted their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a "market perform" rating for the company. Finally, Bank of America boosted their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.50.

Rocket Lab USA Stock Performance

Shares of NASDAQ:RKLB traded up $1.21 during midday trading on Tuesday, hitting $20.50. The stock had a trading volume of 28,769,544 shares, compared to its average volume of 11,106,047. The company has a market capitalization of $10.18 billion, a PE ratio of -55.59 and a beta of 1.29. The stock has a 50 day moving average price of $10.64 and a two-hundred day moving average price of $7.03. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $22.55.

Insider Transactions at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 28,563 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. This trade represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares of the company's stock, valued at approximately $9,195,308.40. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,130,521 shares of company stock valued at $36,366,059 in the last quarter. Insiders own 13.70% of the company's stock.

Institutional Trading of Rocket Lab USA

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer's stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth approximately $8,930,000. International Assets Investment Management LLC lifted its stake in Rocket Lab USA by 934.5% in the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer's stock valued at $10,090,000 after acquiring an additional 88,686 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Rocket Lab USA by 40.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer's stock valued at $440,000 after acquiring an additional 26,605 shares during the last quarter. Finally, Venture Visionary Partners LLC acquired a new stake in Rocket Lab USA in the third quarter valued at approximately $886,000. 71.78% of the stock is currently 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.