Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives Average Recommendation of “Moderate Buy” from Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $17.44.

A number of brokerages have recently weighed in on RKLB. KeyCorp raised their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Cantor Fitzgerald raised their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus upped their price objective 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. JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company boosted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th.

Insider Activity

In related news, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the transaction, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its position in Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after buying an additional 1,709 shares during the last quarter. Wellington Shields & Co. LLC boosted its holdings in shares of Rocket Lab USA by 3.8% in the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after acquiring an additional 2,503 shares in the last quarter. Amalgamated Bank increased its stake in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the period. 180 Wealth Advisors LLC raised its holdings in Rocket Lab USA by 7.5% during 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 in the last quarter. Finally, Lakeridge Wealth Management LLC lifted its position in Rocket Lab USA by 30.0% in the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Down 13.1 %

Shares of Rocket Lab USA stock opened at $22.92 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $28.10. The company has a market capitalization of $11.46 billion, a P/E ratio of -61.94 and a beta of 1.96. The company has a 50 day moving average of $17.50 and a 200 day moving average of $10.02.

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.