Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $31.00 at Stifel Nicolaus

Rocket Lab USA (NASDAQ:RKLB) had its price objective upped by investment analysts at Stifel Nicolaus from $26.00 to $31.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the rocket manufacturer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 15.11% from the company’s previous close.

RKLB has been the subject of a number of other reports. KeyCorp boosted their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Cantor Fitzgerald raised 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 note on Thursday, November 14th. Bank of America lifted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company increased their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.44.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB traded down $1.02 during trading on Wednesday, reaching $26.93. 10,755,849 shares of the company’s stock traded hands, compared to its average volume of 17,521,004. 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 fifty-two week low of $3.47 and a fifty-two week high of $30.26. The company has a 50-day simple moving average of $21.91 and a 200-day simple moving average of $12.22. The firm has a market cap of $13.46 billion, a PE ratio of -72.78 and a beta of 1.98.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the company’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 owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. 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 over the last three months. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Principal Financial Group Inc. lifted its position in shares of Rocket Lab USA by 23.4% during the 2nd quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock worth $226,000 after purchasing an additional 8,928 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Rocket Lab USA during the 2nd quarter worth about $67,000. Rhumbline Advisers increased its holdings in shares of Rocket Lab USA by 24.2% in the 2nd quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock valued at $2,305,000 after acquiring an additional 93,447 shares during the last quarter. National Bank of Canada FI raised its position in shares of Rocket Lab USA by 97.8% during the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Rocket Lab USA by 21.2% during the second quarter. Arizona State Retirement System now owns 89,008 shares of the rocket manufacturer’s stock worth $427,000 after purchasing an additional 15,565 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

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.