Rocket Lab Corporation (NASDAQ:RKLB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Rocket Lab Corporation (NASDAQ:RKLB) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $75.9167.

A number of equities analysts recently issued reports on RKLB shares. TD Cowen reissued a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. KeyCorp downgraded Rocket Lab from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 15th. Zacks Research lowered Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Needham & Company LLC lowered their target price on Rocket Lab from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, The Goldman Sachs Group lifted their price target on Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th.

Insider Activity

In related news, Director Merline Saintil sold 18,126 shares of Rocket Lab stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.04, for a total transaction of $1,360,175.04. Following the completion of the transaction, the director directly owned 261,903 shares of the company’s stock, valued at $19,653,201.12. This trade represents a 6.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,744 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the sale, the chief financial officer directly owned 1,296,824 shares in the company, valued at $90,245,982.16. The trade was a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 4,362,428 shares of company stock worth $281,055,579. 11.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after purchasing an additional 92,849 shares in the last quarter. NewEdge Advisors LLC increased its position in Rocket Lab by 1,812.1% during the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after buying an additional 34,882 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Rocket Lab by 53.8% during the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after buying an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Rocket Lab by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock valued at $13,831,000 after buying an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in Rocket Lab by 1.0% in the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after acquiring an additional 681 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Trading Up 4.4%

NASDAQ:RKLB opened at $71.96 on Friday. The company has a 50-day moving average price of $77.64 and a 200-day moving average price of $62.68. The stock has a market cap of $38.44 billion, a price-to-earnings ratio of -194.48 and a beta of 2.20. The company has a current ratio of 4.08, a quick ratio of 3.61 and a debt-to-equity ratio of 0.10. Rocket Lab has a 12 month low of $14.71 and a 12 month high of $99.58.

About Rocket Lab

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.