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

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $18.44.

A number of research analysts recently commented on the stock. Cantor Fitzgerald upped their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their target price on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Citigroup upped their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th.

Insider Buying and Selling

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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its holdings in shares of Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 8,992 shares during the last quarter. Smith Anglin Financial LLC bought a new stake in shares of Rocket Lab USA during the third quarter worth $104,000. Franklin Resources Inc. acquired a new position in shares of Rocket Lab USA during the third quarter worth $107,000. Schneider Downs Wealth Management Advisors LP bought a new position in shares of Rocket Lab USA in the 3rd quarter valued at $107,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Rocket Lab USA in the 3rd quarter valued at $106,000. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

NASDAQ:RKLB opened at $27.36 on Monday. The company has a market cap of $13.68 billion, a P/E ratio of -73.94 and a beta of 1.98. The firm’s fifty day moving average price is $22.23 and its two-hundred day moving average price is $12.33. Rocket Lab USA has a one year low of $3.47 and a one year high of $30.26. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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.