Rocket Lab USA (NASDAQ:RKLB) Given New $12.00 Price Target at KeyCorp

Rocket Lab USA (NASDAQ:RKLB) had its price target boosted by KeyCorp from $11.00 to $12.00 in a research report released on Thursday, Benzinga reports. KeyCorp currently has an overweight rating on the rocket manufacturer’s stock.

A number of other research firms have also recently weighed in on RKLB. Citigroup lifted their price objective on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Rocket Lab USA in a report on Monday, September 30th. BTIG Research started coverage on Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating for the company. Finally, JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.89.

Rocket Lab USA Stock Down 1.7 %

Rocket Lab USA stock traded down $0.19 during mid-day trading on Thursday, reaching $11.00. The stock had a trading volume of 636,342 shares, compared to its average volume of 9,854,549. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of -31.97 and a beta of 1.32. Rocket Lab USA has a one year low of $3.47 and a one year high of $12.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The company has a 50-day moving average price of $8.15 and a two-hundred day moving average price of $5.79.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data 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 analysts’ expectations of $105.47 million. During the same period last year, the firm posted ($0.10) earnings per share. Rocket Lab USA’s revenue 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 fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares in the company, valued at $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction 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 approximately $4,437,403.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now owns 42,353 shares in the company, valued at $292,235.70. This represents 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 have 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

Institutional investors have recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC raised its holdings in 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 raised its holdings in 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 purchasing an additional 2,538 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after buying an additional 2,807 shares during the period. Lakeridge Wealth Management LLC lifted its position in shares of Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Verus Capital Partners LLC lifted its stake in Rocket Lab USA by 11.9% during the second quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after buying an additional 3,525 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

About Rocket Lab USA

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.