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

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $22.28.

Several research analysts have weighed in on RKLB shares. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. KeyCorp raised their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Citigroup lifted their price objective on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction dated 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 directly owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the transaction, the general counsel now directly owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. The trade was a 4.48 % 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 three months. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several hedge funds have recently modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Rocket Lab USA in the fourth quarter valued at $40,000. New Millennium Group LLC grew its stake in shares of Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after buying an additional 1,050 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Rocket Lab USA in the 4th quarter worth $76,000. Principal Securities Inc. increased its holdings in shares of Rocket Lab USA by 137.3% in the 4th quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock worth $136,000 after buying an additional 3,099 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of Rocket Lab USA by 478.6% during the 4th quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock valued at $177,000 after buying an additional 5,762 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

RKLB opened at $28.53 on Friday. The company’s 50 day moving average is $25.84 and its 200 day moving average is $14.68. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a market cap of $14.26 billion, a price-to-earnings ratio of -77.11 and a beta of 1.98. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $33.34.

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.