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

Rocket Lab USA (NASDAQ:RKLB) had its price target hoisted by investment analysts at The Goldman Sachs Group from $5.00 to $12.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the rocket manufacturer’s stock. The Goldman Sachs Group’s target price would indicate a potential downside of 40.54% from the stock’s previous close.

Several other brokerages also recently commented on RKLB. Stifel Nicolaus lifted their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Bank of America lifted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. KeyCorp lifted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Citigroup boosted their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Trading Down 1.6 %

Shares of RKLB stock opened at $20.18 on Tuesday. The firm has a market capitalization of $10.02 billion, a P/E ratio of -54.54 and a beta of 1.29. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $22.55. 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 stock’s fifty day simple moving average is $10.93 and its 200 day simple moving average is $7.14.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 2,448,789 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 valued at $80,317,000 after acquiring an additional 898,223 shares in the last quarter. ARK Investment Management LLC grew its holdings 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 valued at $30,226,000 after acquiring an additional 391,778 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 532,207 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after acquiring an additional 284,360 shares in the last quarter. 71.78% of the stock is owned by 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.