Stifel Nicolaus Forecasts Strong Price Appreciation for Rocket Lab USA (NASDAQ:RKLB) Stock

Rocket Lab USA (NASDAQ:RKLB) had its price target lifted by analysts at Stifel Nicolaus from $26.00 to $31.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the rocket manufacturer’s stock. Stifel Nicolaus’ price target indicates a potential upside of 13.30% from the company’s previous close.

RKLB has been the topic of several other reports. Citigroup increased their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. KeyCorp increased their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Bank of America boosted 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 report on Thursday, November 14th. JMP Securities began coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.44.

Rocket Lab USA Trading Down 2.1 %

NASDAQ:RKLB opened at $27.36 on Wednesday. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $30.26. The stock has a market cap of $13.68 billion, a P/E ratio of -73.94 and a beta of 1.98. 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 50-day simple moving average of $22.57 and a 200-day simple moving average of $12.43.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred 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 transaction, 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. Insiders sold a total of 2,114,530 shares of company stock valued at $38,168,400 in the last ninety days. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Institutional investors have recently modified their holdings of the business. Amalgamated Bank lifted its holdings in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares during the period. CIBC Asset Management Inc purchased a new stake in Rocket Lab USA during the second quarter worth about $67,000. Sanctuary Advisors LLC acquired a new position in Rocket Lab USA during the second quarter worth about $76,000. National Bank of Canada FI increased its holdings in Rocket Lab USA by 97.8% in the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 10,000 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after acquiring an additional 8,992 shares during the period. 71.78% of the stock is currently owned by hedge funds and other 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.