Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $32.00

Rocket Lab USA (NASDAQ:RKLB) had its price objective lifted by KeyCorp from $27.00 to $32.00 in a research report sent to investors on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the rocket manufacturer’s stock.

Several other analysts also recently weighed in on RKLB. Bank of America lifted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald upped their price target on shares of 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 boosted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Citigroup increased their target price on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Stock Up 1.8 %

Shares of NASDAQ:RKLB opened at $29.05 on Wednesday. The business’s 50 day moving average is $25.96 and its 200 day moving average is $14.77. The stock has a market cap of $14.52 billion, a P/E ratio of -78.51 and a beta of 1.98. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Insider Activity

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last 90 days. 13.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Citigroup Inc. raised its position in Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the period. Geode Capital Management LLC boosted its stake in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the last quarter. FORA Capital LLC purchased a new stake in Rocket Lab USA in the 3rd quarter worth approximately $449,000. Finally, National Bank of Canada FI boosted its holdings in Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after buying an additional 30,178 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

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.