Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Average Rating of “Moderate Buy” by Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.44.

RKLB has been the topic of a number of recent analyst reports. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company upped 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 research note on Wednesday, December 11th. Finally, Bank of America lifted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th.

Rocket Lab USA Trading Down 1.6 %

Shares of NASDAQ RKLB opened at $26.91 on Monday. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $30.26. 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 $13.45 billion, a price-to-earnings ratio of -72.73 and a beta of 1.98. The business’s 50 day moving average price is $22.88 and its 200-day moving average price is $12.69.

Insiders Place Their Bets

In related news, insider Frank Klein sold 35,968 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % 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 worth $38,168,400 over the last 90 days. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rocket Lab USA by 54.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the rocket manufacturer’s stock valued at $282,000 after buying an additional 20,636 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Rocket Lab USA by 23.4% during the second quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock worth $226,000 after acquiring an additional 8,928 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Rocket Lab USA during the second quarter valued at about $67,000. Rhumbline Advisers raised its position in shares of Rocket Lab USA by 24.2% in the 2nd quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock valued at $2,305,000 after purchasing an additional 93,447 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Rocket Lab USA by 97.8% in the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.