Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.50.

RKLB has been the topic of several recent research reports. Bank of America lifted their price target on shares of 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 upped their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup boosted their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald boosted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th.

Rocket Lab USA Price Performance

NASDAQ RKLB opened at $23.26 on Friday. The firm’s 50 day moving average is $11.82 and its 200-day moving average is $7.47. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $11.63 billion, a PE ratio of -62.86 and a beta of 1.29. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $23.81.

Insiders Place Their Bets

In other news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RKLB. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares during the period. Geode Capital Management LLC boosted its stake in Rocket Lab USA by 12.2% in the 3rd 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 during the period. ARK Investment Management LLC grew its holdings in Rocket Lab USA by 6.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after buying an additional 391,778 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 buying an additional 532,207 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Rocket Lab USA by 11.1% during the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after buying an additional 284,360 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

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.