Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.44.

Several brokerages have recently weighed in on RKLB. Cantor Fitzgerald lifted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America upped their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Citigroup raised their target price 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. Finally, KeyCorp raised their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

Rocket Lab USA Stock Up 15.1 %

Shares of RKLB opened at $28.74 on Monday. 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 company has a 50-day simple moving average of $21.22 and a 200-day simple moving average of $11.84. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $28.80. The firm has a market capitalization of $14.37 billion, a P/E ratio of -77.67 and a beta of 1.98.

Insider Transactions at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the sale, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction dated 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 directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 over the last three months. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds have recently added to or reduced their stakes in RKLB. Ieq Capital LLC acquired a new stake in Rocket Lab USA in the 2nd quarter worth about $5,469,000. Mizuho Markets Americas LLC acquired a new stake in Rocket Lab USA during the 3rd quarter worth approximately $8,930,000. Geode Capital Management LLC grew its position in shares of 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 buying an additional 898,223 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rocket Lab USA by 22.7% during the third 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. grew its stake in 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 purchasing an additional 284,360 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

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.