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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $14.72.

A number of brokerages have weighed in on RKLB. JMP Securities began coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. Wells Fargo & Company raised 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. Stifel Nicolaus boosted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America upped their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th.

Rocket Lab USA Stock Performance

Rocket Lab USA stock opened at $19.00 on Friday. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $22.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.43. The firm has a market capitalization of $9.44 billion, a P/E ratio of -51.35 and a beta of 1.29. The company’s 50-day moving average is $10.38 and its 200 day moving average is $6.87.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 4.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 130,521 shares of company stock valued at $906,059. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares during the last quarter. Geode Capital Management LLC grew its stake in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the period. ARK Investment Management LLC boosted its position in shares of Rocket Lab USA by 6.6% in the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after buying an additional 391,778 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Rocket Lab USA by 22.7% during the 3rd 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 in the last quarter. Finally, American Century Companies Inc. grew its stake in Rocket Lab USA by 11.1% during 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 in the last quarter. 71.78% of the stock is currently 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.