Analysts Set Rocket Lab USA, Inc. (NASDAQ:RKLB) Target Price at $23.06

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $23.06.

A number of brokerages have recently weighed in on RKLB. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Stifel Nicolaus boosted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, KeyCorp cut their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th.

Rocket Lab USA Price Performance

NASDAQ RKLB opened at $19.44 on Friday. The company has a 50-day moving average price of $23.94 and a two-hundred day moving average price of $19.48. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of -52.54 and a beta of 2.06. 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 52 week low of $3.47 and a 52 week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Analysts forecast that Rocket Lab USA will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its holdings in shares of Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after purchasing an additional 334 shares in the last quarter. Wellington Shields & Co. LLC lifted its position in Rocket Lab USA by 0.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock worth $1,898,000 after acquiring an additional 383 shares during the last quarter. Signaturefd LLC grew its position in shares of Rocket Lab USA by 12.2% in the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after purchasing an additional 653 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Rocket Lab USA by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock valued at $554,000 after buying an additional 696 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Rocket Lab USA by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after buying an additional 746 shares during 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.