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

Rocket Lab USA (NASDAQ:RKLB) had its price objective upped by analysts at Bank of America from $10.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the rocket manufacturer’s stock. Bank of America‘s price objective points to a potential upside of 65.93% from the company’s previous close.

Several other research firms have also commented on RKLB. Cantor Fitzgerald raised their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus raised their target price on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup raised their price objective on shares of Rocket Lab USA from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, KeyCorp upped 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 note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.72.

Rocket Lab USA Trading Down 4.0 %

Rocket Lab USA stock traded down $0.75 during midday trading on Thursday, hitting $18.08. 30,085,676 shares of the stock were exchanged, compared to its average volume of 10,733,731. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The stock’s 50-day simple moving average is $9.89 and its 200 day simple moving average is $6.70. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $22.55. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of -48.86 and a beta of 1.29.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Tuesday, November 12th. The rocket manufacturer reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Rocket Lab USA had a negative return on equity of 37.95% and a negative net margin of 51.76%. The company had revenue of $104.81 million for the quarter, compared to the consensus estimate of $102.74 million. On average, equities analysts anticipate that Rocket Lab USA will post -0.39 EPS for the current year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the transaction, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 130,521 shares of company stock valued at $906,059. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Rocket Lab USA by 934.5% during the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after buying an additional 88,686 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Rocket Lab USA by 40.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after acquiring an additional 26,605 shares during the last quarter. Venture Visionary Partners LLC acquired a new stake in Rocket Lab USA during the 3rd quarter worth approximately $886,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Rocket Lab USA by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer’s stock valued at $1,209,000 after purchasing an additional 6,534 shares during the last quarter. Hedge funds and other 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.