Rocket Lab USA (NASDAQ:RKLB) Given New $22.00 Price Target at Stifel Nicolaus

Rocket Lab USA (NASDAQ:RKLB) had its price objective increased by Stifel Nicolaus from $15.00 to $22.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the rocket manufacturer’s stock.

Several other equities analysts have also recently issued reports on RKLB. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. KeyCorp boosted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 target price on shares of Rocket Lab USA in a research note on Monday, September 30th. Citigroup boosted their target price on shares of Rocket Lab USA from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.69.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $18.83 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $22.55. The company has a 50 day simple moving average of $9.64 and a two-hundred day simple moving average of $6.61. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of -50.89 and a beta of 1.29.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Tuesday, November 12th. The rocket manufacturer reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 37.95%. The business had revenue of $104.81 million during the quarter, compared to analysts’ expectations of $102.74 million. As a group, analysts predict that Rocket Lab USA will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were 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 of the company’s stock, valued at $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently modified their holdings of the business. Allworth Financial LP grew its holdings in shares of 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 worth $92,000 after buying an additional 8,992 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Rocket Lab USA in the second quarter valued at about $46,000. Baxter Bros Inc. purchased a new stake in shares of Rocket Lab USA in the second quarter valued at about $48,000. Smith Anglin Financial LLC purchased a new stake in shares of Rocket Lab USA in the third quarter valued at about $104,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares during the period. 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.