Rocket Lab USA’s (RKLB) Buy Rating Reiterated at Citigroup

Rocket Lab USA (NASDAQ:RKLBGet Free Report)‘s stock had its “buy” rating reaffirmed by Citigroup in a research note issued to investors on Monday, Benzinga reports. They presently have a $6.00 price target on the rocket manufacturer’s stock. Citigroup’s price target indicates a potential upside of 38.25% from the stock’s current price.

A number of other analysts have also commented on the company. KeyCorp initiated coverage on Rocket Lab USA in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price target on shares of Rocket Lab USA in a report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.88.

View Our Latest Stock Analysis on RKLB

Rocket Lab USA Stock Up 0.9 %

RKLB stock opened at $4.34 on Monday. Rocket Lab USA has a 1-year low of $3.62 and a 1-year high of $8.05. The company has a current ratio of 1.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $4.92 and its 200 day moving average is $5.05. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -12.06 and a beta of 1.25.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 19,443 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $4.46, for a total value of $86,715.78. Following the completion of the transaction, the general counsel now directly owns 505,947 shares in the company, valued at $2,256,523.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Adam C. Spice sold 57,721 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $4.46, for a total value of $257,435.66. Following the sale, the chief financial officer now directly owns 1,509,366 shares of the company’s stock, valued at $6,731,772.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 19,443 shares of Rocket Lab USA stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $4.46, for a total value of $86,715.78. Following the completion of the sale, the general counsel now owns 505,947 shares in the company, valued at approximately $2,256,523.62. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently modified their holdings of RKLB. Cambridge Investment Research Advisors Inc. boosted its position in shares of Rocket Lab USA by 10.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 19,266 shares of the rocket manufacturer’s stock worth $116,000 after acquiring an additional 1,843 shares in the last quarter. Raymond James & Associates raised its stake in Rocket Lab USA by 10.3% during the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock valued at $121,000 after acquiring an additional 2,040 shares during the last quarter. Mackenzie Financial Corp raised its stake in Rocket Lab USA by 18.9% during the 2nd quarter. Mackenzie Financial Corp now owns 13,863 shares of the rocket manufacturer’s stock valued at $83,000 after acquiring an additional 2,200 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Rocket Lab USA by 14.5% during the 4th quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock worth $97,000 after buying an additional 2,230 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Rocket Lab USA by 14.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 18,057 shares of the rocket manufacturer’s stock worth $108,000 after buying an additional 2,266 shares in the last quarter. Hedge funds and other institutional investors own 54.19% of the company’s stock.

Rocket Lab USA Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Rocket Lab USA (NASDAQ:RKLB)

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