Rocket Lab USA (NASDAQ:RKLB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Rocket Lab USA (NASDAQ:RKLB) had its price target hoisted by Stifel Nicolaus from $26.00 to $31.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the rocket manufacturer’s stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group upped their target price on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Cantor Fitzgerald boosted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, KeyCorp increased their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and a consensus target price of $18.44.

Rocket Lab USA Stock Down 2.1 %

RKLB stock opened at $27.36 on Wednesday. The business’s 50-day simple moving average is $22.23 and its 200 day simple moving average is $12.33. 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 cap of $13.68 billion, a PE ratio of -73.94 and a beta of 1.98. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $30.26.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the sale, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ieq Capital LLC bought a new position in shares of Rocket Lab USA during the second quarter worth $5,469,000. Mizuho Markets Americas LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth about $8,930,000. Geode Capital Management LLC raised its position in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $28,006,000 after purchasing an additional 532,207 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in 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 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.