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

Rocket Lab USA (NASDAQ:RKLB) had its price target boosted by The Goldman Sachs Group from $5.00 to $12.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the rocket manufacturer’s stock.

RKLB has been the subject of several other research reports. Citigroup raised their target price on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald increased their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Up 10.9 %

RKLB opened at $22.37 on Tuesday. The company has a 50 day moving average of $11.20 and a 200 day moving average of $7.23. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $22.55. The company has a market cap of $11.11 billion, a PE ratio of -60.46 and a beta of 1.29.

Insider Activity

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several large investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its holdings in shares of Rocket Lab USA by 59.4% during the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after acquiring an additional 4,032 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Rocket Lab USA during the 2nd quarter valued at $46,000. Baxter Bros Inc. bought a new position in Rocket Lab USA in the 2nd quarter worth $48,000. Amalgamated Bank lifted its position in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at about $67,000. 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.