Analysts Set Rocket Lab USA, Inc. (NASDAQ:RKLB) Price Target at $17.44

Rocket Lab USA, Inc. (NASDAQ:RKLB) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $17.44.

RKLB has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group raised their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. 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 report on Thursday, November 14th. Cantor Fitzgerald raised their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock worth $38,168,400 over the last ninety days. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of the company. 180 Wealth Advisors LLC increased its stake in shares of Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after purchasing an additional 2,807 shares during the period. LA Financiere DE L Echiquier increased its position in Rocket Lab USA by 9.4% in the 2nd quarter. LA Financiere DE L Echiquier now owns 1,151,190 shares of the rocket manufacturer’s stock worth $5,526,000 after buying an additional 98,643 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Rocket Lab USA by 25.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after buying an additional 432,501 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Rocket Lab USA by 40.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after acquiring an additional 26,605 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Rocket Lab USA by 323.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 19,708 shares of the rocket manufacturer’s stock worth $95,000 after acquiring an additional 15,052 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Stock Up 8.1 %

RKLB stock opened at $24.42 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm has a market capitalization of $12.21 billion, a P/E ratio of -66.00 and a beta of 1.96. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $28.10. The company’s 50 day simple moving average is $16.57 and its 200-day simple moving average is $9.55.

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.