The Goldman Sachs Group Raises Rocket Lab USA (NASDAQ:RKLB) Price Target to $12.00

Rocket Lab USA (NASDAQ:RKLB) had its price target increased by investment analysts at The Goldman Sachs Group from $5.00 to $12.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the rocket manufacturer’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 40.54% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Citigroup raised their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Cantor Fitzgerald raised their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. JMP Securities started coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating for the company. Finally, Bank of America raised their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $20.18 on Tuesday. The stock has a 50 day moving average price of $10.93 and a 200 day moving average price of $7.14. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $22.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a market capitalization of $10.02 billion, a PE ratio of -54.54 and a beta of 1.29.

Insider Buying and Selling

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds have recently added to or reduced their stakes in RKLB. Allworth Financial LP increased its stake in shares of Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 8,992 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA in the 2nd quarter valued at $46,000. Baxter Bros Inc. bought a new position in shares of Rocket Lab USA in the 2nd quarter valued at $48,000. Smith Anglin Financial LLC bought a new position in shares of Rocket Lab USA in the 3rd quarter valued at $104,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares during 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.