Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $30.00

by · The Cerbat Gem

Rocket Lab USA (NASDAQ:RKLB – Free Report) had its target price boosted by Bank of America from $10.00 to $30.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the rocket manufacturer’s stock.

RKLB has been the subject of several other reports. Citigroup boosted their target price on Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. KeyCorp boosted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald raised their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.72.

Read Our Latest Stock Analysis on Rocket Lab USA

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $19.00 on Thursday. The stock has a market capitalization of $9.44 billion, a P/E ratio of -51.35 and a beta of 1.29. The business has a 50-day moving average of $10.38 and a two-hundred day moving average of $6.90. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $22.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.43.

Insiders Place Their Bets

In related news, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. This represents a 4.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. This trade represents a 48.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock worth $906,059 in the last ninety days. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP boosted 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 in the last quarter. International Assets Investment Management LLC bought a new position in Rocket Lab USA during the second quarter worth about $46,000. Baxter Bros Inc. acquired a new stake in Rocket Lab USA during the second quarter valued at approximately $48,000. Smith Anglin Financial LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at approximately $104,000. Finally, Advisors Asset Management Inc. raised its holdings 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 worth $44,000 after buying an additional 4,032 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

About Rocket Lab USA

(Get Free Report)

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.

Read More