Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $17.44 Average Target Price from Brokerages

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $18.44.

RKLB has been the subject of a number of analyst reports. Cantor Fitzgerald upped their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted 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. Bank of America upped their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company raised their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th.

Insider Activity

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last 90 days. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Amalgamated Bank lifted its stake in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Rocket Lab USA in the second quarter worth $67,000. Sanctuary Advisors LLC bought a new stake in Rocket Lab USA in the second quarter worth $76,000. National Bank of Canada FI boosted its stake in Rocket Lab USA by 97.8% during the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock worth $92,000 after buying an additional 10,000 shares during the period. Finally, Allworth Financial LP increased its position in Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after acquiring an additional 8,992 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Down 1.6 %

NASDAQ:RKLB opened at $26.91 on Monday. Rocket Lab USA has a one year low of $3.47 and a one year high of $30.26. The business has a fifty day moving average price of $22.88 and a 200-day moving average price of $12.69. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of -72.73 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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.