Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $32.00

Rocket Lab USA (NASDAQ:RKLB) had its price target raised by KeyCorp from $27.00 to $32.00 in a research note published on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the rocket manufacturer’s stock.

A number of other research firms have also weighed in on RKLB. 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 research note on Tuesday, January 21st. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Stifel Nicolaus upped their target price on 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 lifted their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Finally, TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Price Performance

Rocket Lab USA stock opened at $29.05 on Wednesday. The company has a fifty day simple moving average of $25.96 and a 200-day simple moving average of $14.77. 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 capitalization of $14.52 billion, a price-to-earnings ratio of -78.51 and a beta of 1.98. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $33.34.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction that occurred 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 owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade 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 valued at $38,168,400 in the last three months. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors have recently modified their holdings of the company. Amalgamated Bank lifted its holdings in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares during the last quarter. Xponance Inc. lifted its stake in Rocket Lab USA by 29.1% during the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock worth $106,000 after purchasing an additional 4,997 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Rocket Lab USA by 21.2% in the second quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer’s stock valued at $985,000 after purchasing an additional 35,849 shares in the last quarter. Algert Global LLC purchased a new position in Rocket Lab USA in the second quarter valued at approximately $154,000. Finally, Creative Planning raised its holdings in Rocket Lab USA by 63.3% during the second quarter. Creative Planning now owns 60,043 shares of the rocket manufacturer’s stock worth $288,000 after purchasing an additional 23,264 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.