The Goldman Sachs Group Increases Rocket Lab USA (NASDAQ:RKLB) Price Target to $13.50

Rocket Lab USA (NASDAQ:RKLB) had its price target hoisted by investment analysts at The Goldman Sachs Group from $12.00 to $13.50 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the rocket manufacturer’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 43.75% from the company’s current price.

Several other brokerages have also issued reports on RKLB. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. 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 research note on Wednesday, December 11th. KeyCorp increased their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald lifted their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Citigroup lifted their price target 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. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.61.

Rocket Lab USA Trading Down 2.6 %

Shares of RKLB opened at $24.00 on Thursday. The business’s 50-day moving average price is $24.05 and its 200-day moving average price is $13.26. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $30.26. The stock has a market cap of $12.00 billion, a PE ratio of -64.86 and a beta of 1.98.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 35,968 shares of the 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 $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 2,351,135 shares in the company, 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 worth $38,168,400 in the last three months. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several large investors have recently modified their holdings of the stock. Avior Wealth Management LLC lifted its position in shares of Rocket Lab USA by 478.6% during the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock worth $177,000 after purchasing an additional 5,762 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Rocket Lab USA by 134.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer’s stock worth $237,000 after purchasing an additional 5,325 shares during the last quarter. Allworth Financial LP increased its stake in shares of Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 8,992 shares during the period. Smith Anglin Financial LLC purchased a new stake in shares of Rocket Lab USA in the third quarter worth about $104,000. Finally, Franklin Resources Inc. purchased a new position in shares of Rocket Lab USA during the 3rd quarter valued at approximately $107,000. 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.