Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $14.72.

A number of equities research analysts recently issued reports on RKLB shares. Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp lifted their price objective 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. Bank of America upped their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th.

Insider Transactions at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The trade was a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction dated Thursday, August 22nd. The shares were 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 of the company’s stock, valued at $292,235.70. This represents a 48.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after purchasing an additional 1,709 shares in the last quarter. Wellington Shields & Co. LLC increased its holdings in Rocket Lab USA by 3.8% in the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after acquiring an additional 2,503 shares in the last quarter. Amalgamated Bank raised 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 valued at $58,000 after purchasing an additional 2,538 shares during the period. 180 Wealth Advisors LLC lifted its position in shares of Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after acquiring an additional 2,807 shares in the last quarter. Finally, Lakeridge Wealth Management LLC lifted its holdings in Rocket Lab USA by 30.0% in the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after purchasing an additional 3,000 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Price Performance

Shares of RKLB stock opened at $19.00 on Friday. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $22.55. The firm has a fifty day moving average of $10.38 and a 200-day moving average of $6.87. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of -51.35 and a beta of 1.29. The company has a quick ratio of 2.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

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.