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

Rocket Lab USA (NASDAQ:RKLB) had its price objective lifted by analysts at The Goldman Sachs Group from $5.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the rocket manufacturer’s stock. The Goldman Sachs Group’s price target points to a potential downside of 41.66% from the company’s previous close.

A number of other equities research analysts also recently issued reports on RKLB. JMP Securities assumed coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup boosted their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Price Performance

Shares of RKLB traded up $1.28 during mid-day trading on Tuesday, hitting $20.57. 14,934,048 shares of the stock were exchanged, compared to its average volume of 11,044,454. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a market cap of $10.22 billion, a PE ratio of -55.59 and a beta of 1.29. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $22.55. The firm has a 50-day moving average of $10.64 and a two-hundred day moving average of $7.03.

Insider Buying and Selling

In related news, 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 transaction, the director now owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now owns 42,353 shares in the company, valued at $292,235.70. The trade was a 48.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,130,521 shares of company stock valued at $36,366,059 in the last 90 days. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its position in Rocket Lab USA by 59.4% during the 1st 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 stake in shares of Rocket Lab USA during the second quarter valued at about $46,000. Baxter Bros Inc. bought a new stake in shares of Rocket Lab USA in the 2nd quarter valued at about $48,000. Amalgamated Bank boosted its stake in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of Rocket Lab USA during the second quarter worth about $67,000. 71.78% of the stock is owned by hedge funds and other 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.