Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) Target Price at $22.28

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $21.61.

RKLB has been the topic of a number of research analyst reports. KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday. Cantor Fitzgerald boosted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Bank of America boosted 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. Finally, Wells Fargo & Company boosted their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th.

Rocket Lab USA Trading Up 3.1 %

Shares of NASDAQ:RKLB opened at $20.44 on Tuesday. The stock has a 50 day moving average of $26.71 and a 200 day moving average of $17.91. The company has a market cap of $10.22 billion, a PE ratio of -55.25 and a beta of 1.99. 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 $33.34.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. As a group, equities research analysts expect that Rocket Lab USA will post -0.38 EPS for the current year.

Insider Activity at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, the director now owns 132,294 shares in the company, valued at $3,126,107.22. The trade was a 7.03 % decrease in their position. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Rocket Lab USA in the 4th quarter valued at $4,134,000. University of Texas Texas AM Investment Management Co. bought a new position in Rocket Lab USA in the 4th quarter valued at $84,000. Sunbelt Securities Inc. grew its position in Rocket Lab USA by 911.9% in the 4th quarter. Sunbelt Securities Inc. now owns 5,717 shares of the rocket manufacturer’s stock valued at $150,000 after acquiring an additional 5,152 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Rocket Lab USA by 30.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,790 shares of the rocket manufacturer’s stock valued at $17,391,000 after acquiring an additional 159,642 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in Rocket Lab USA in the 4th quarter valued at $22,331,000. 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.