Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $12.00 at The Goldman Sachs Group

Rocket Lab USA (NASDAQ:RKLB) had its target price lifted by investment analysts at The Goldman Sachs Group from $5.00 to $12.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the rocket manufacturer’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 41.66% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Citigroup upped their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday. Cantor Fitzgerald lifted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. JMP Securities began coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Bank of America lifted their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, 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 research note on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Rocket Lab USA Stock Performance

NASDAQ RKLB traded up $1.28 on Tuesday, hitting $20.57. 14,934,048 shares of the company’s stock traded hands, compared to its average volume of 11,044,454. The firm’s 50-day moving average price is $10.64 and its two-hundred day moving average price is $7.03. The firm has a market capitalization of $10.22 billion, a PE ratio of -55.59 and a beta of 1.29. 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 Activity

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA 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 in the company, valued at approximately $292,235.70. This represents a 48.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,130,521 shares of company stock worth $36,366,059 over the last three months. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the last quarter. Geode Capital Management LLC grew its position in Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares during the period. ARK Investment Management LLC increased its stake in Rocket Lab USA by 6.6% during the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after acquiring an additional 391,778 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after purchasing an additional 284,360 shares during 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.