Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $12.00

Rocket Lab USA (NASDAQ:RKLB) had its target price boosted by The Goldman Sachs Group from $5.00 to $12.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the rocket manufacturer’s stock.

RKLB has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Stifel Nicolaus increased their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup increased their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $22.37 on Tuesday. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $22.55. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of -60.46 and a beta of 1.29. The stock has a fifty day simple moving average of $11.20 and a 200 day simple moving average of $7.23.

Insider Activity

In related news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction that occurred on 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 transaction, the director now owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RKLB. Advisors Asset Management Inc. boosted 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 during the last quarter. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA during the 2nd quarter valued at approximately $46,000. Baxter Bros Inc. purchased a new stake in shares of Rocket Lab USA during the 2nd quarter worth approximately $48,000. Amalgamated Bank raised its holdings in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in Rocket Lab USA in the second quarter worth $67,000. 71.78% of the stock is owned by 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.