Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report) gapped up before the market opened on Tuesday after Citigroup raised their price target on the stock from $22.00 to $35.00. The stock had previously closed at $24.00, but opened at $26.00. Citigroup currently has a buy rating on the stock. Rocket Lab USA shares last traded at $28.73, with a volume of 10,294,357 shares changing hands.
Several other equities analysts also recently issued reports on RKLB. The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Stifel Nicolaus increased their price objective 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. Wells Fargo & Company increased 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 report on Wednesday, December 11th. Finally, KeyCorp increased their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $20.06.
View Our Latest Research Report on Rocket Lab USA
Insider Buying and Selling
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in RKLB. Amalgamated Bank lifted its position in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Rocket Lab USA during the 2nd quarter worth approximately $76,000. Allworth Financial LP raised its position in Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 8,992 shares during the last quarter. Smith Anglin Financial LLC purchased a new stake in Rocket Lab USA in the 3rd quarter valued at $104,000. Finally, Xponance Inc. raised its position in Rocket Lab USA by 29.1% in the 2nd quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock valued at $106,000 after purchasing an additional 4,997 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.
Rocket Lab USA Stock Performance
The firm’s 50-day moving average is $24.56 and its 200 day moving average is $13.71. The stock has a market cap of $14.81 billion, a PE ratio of -80.05 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.
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.
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