Rocket Lab USA (NASDAQ:RKLB) Given New $12.00 Price Target at The Goldman Sachs Group

Rocket Lab USA (NASDAQ:RKLB) had its price target raised by The Goldman Sachs Group from $5.00 to $12.00 in a research note published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the rocket manufacturer’s stock.

RKLB has been the topic of a number of other reports. Wells Fargo & Company lifted their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Citigroup increased their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald upped their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. JMP Securities assumed coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus upped their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Rocket Lab USA Stock Up 6.3 %

Shares of NASDAQ RKLB opened at $20.50 on Tuesday. The stock has a market cap of $10.18 billion, a PE ratio of -55.59 and a beta of 1.29. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $22.55. The business has a 50-day moving average price of $10.64 and a 200 day moving average price of $7.03. 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 related news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares in the company, valued at $292,235.70. This represents a 48.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,130,521 shares of company stock worth $36,366,059 in the last 90 days. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after acquiring an additional 2,448,789 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $80,317,000 after purchasing an additional 898,223 shares in the last quarter. ARK Investment Management LLC grew its position in shares of Rocket Lab USA by 6.6% in the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after purchasing an additional 391,778 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares in the last quarter. Institutional investors and hedge funds 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.