Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives $22.28 Average Price Target from Brokerages

Rocket Lab USA, Inc. (NASDAQ:RKLBGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $22.28.

A number of analysts recently weighed in on the company. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus lifted their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their price target on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th.

Read Our Latest Stock Report on Rocket Lab USA

Insiders Place Their Bets

In other news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was 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 approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors have recently made changes to their positions in RKLB. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA in the fourth quarter valued at $40,000. New Millennium Group LLC grew its position in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after acquiring an additional 1,050 shares during the period. Global Retirement Partners LLC purchased a new stake in Rocket Lab USA during the fourth quarter valued at about $58,000. Sanctuary Advisors LLC purchased a new stake in Rocket Lab USA during the second quarter valued at about $76,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Rocket Lab USA during the fourth quarter valued at about $76,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Trading Up 1.8 %

Shares of RKLB stock opened at $29.05 on Friday. The business’s 50 day moving average is $26.07 and its two-hundred day moving average is $15.00. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $33.34. The company has a market capitalization of $14.52 billion, a P/E ratio of -78.51 and a beta of 1.98. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

About Rocket Lab USA

(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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