Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $20.00

Rocket Lab USA (NASDAQ:RKLB) had its price target increased by Morgan Stanley from $18.00 to $20.00 in a report issued on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the rocket manufacturer’s stock.

Several other analysts also recently commented on RKLB. Cantor Fitzgerald increased their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. KeyCorp cut their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $18.43 on Monday. Rocket Lab USA has a one year low of $3.47 and a one year high of $33.34. The company’s 50-day moving average is $25.45 and its 200 day moving average is $18.58. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of -49.81 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Sell-side analysts expect that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Rocket Lab USA during the 4th quarter worth approximately $4,134,000. University of Texas Texas AM Investment Management Co. bought a new stake in Rocket Lab USA during the 4th quarter worth approximately $84,000. Sunbelt Securities Inc. raised its stake in Rocket Lab USA by 911.9% during the 4th quarter. Sunbelt Securities Inc. now owns 5,717 shares of the rocket manufacturer’s stock worth $150,000 after acquiring an additional 5,152 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Rocket Lab USA by 30.5% during the fourth 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 buying an additional 159,642 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $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.