The Goldman Sachs Group Increases Rocket Lab USA (NASDAQ:RKLB) Price Target to $5.00

Rocket Lab USA (NASDAQ:RKLB) had its target price boosted by The Goldman Sachs Group from $4.50 to $5.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the rocket manufacturer’s stock.

RKLB has been the topic of several other research reports. Cantor Fitzgerald restated an overweight rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 30th. KeyCorp upped their price target on Rocket Lab USA from $8.00 to $11.00 and gave the stock an overweight rating in a research note on Friday, September 27th. Morgan Stanley downgraded Rocket Lab USA from an overweight rating to an equal weight rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. BTIG Research began coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They issued a neutral rating for the company. Finally, Citigroup increased their price objective on Rocket Lab USA from $5.45 to $7.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Rocket Lab USA has an average rating of Hold and an average price target of $6.75.

Rocket Lab USA Trading Up 3.3 %

NASDAQ RKLB opened at $9.70 on Thursday. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $10.29. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $7.12 and its two-hundred day moving average price is $5.38. The firm has a market capitalization of $4.82 billion, a PE ratio of -27.71 and a beta of 1.32.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The company had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 71.2% compared to the same quarter last year. On average, analysts expect that Rocket Lab USA will post -0.39 EPS for the current year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, 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 transaction of $435,083.52. Following the completion of the transaction, 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently made changes to their positions in RKLB. Advisors Asset Management Inc. raised its position in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after buying an additional 4,032 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Rocket Lab USA during the second quarter valued at about $46,000. Baxter Bros Inc. purchased a new stake in Rocket Lab USA during the second quarter valued at about $48,000. Amalgamated Bank raised its position in Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA in the second quarter worth about $67,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.