Stifel Nicolaus Forecasts Strong Price Appreciation for Rocket Lab USA (NASDAQ:RKLB) Stock

Rocket Lab USA (NASDAQ:RKLB) had its price objective increased by investment analysts at Stifel Nicolaus from $15.00 to $22.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the rocket manufacturer’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 26.73% from the company’s current price.

Several other equities research analysts have also commented on the stock. JMP Securities assumed coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Citigroup raised their price objective on Rocket Lab USA from $7.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 30th. Finally, KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.72.

Rocket Lab USA Stock Down 7.8 %

Shares of NASDAQ:RKLB opened at $17.36 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.43 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $22.55. The firm’s 50-day moving average is $9.89 and its 200 day moving average is $6.70.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Tuesday, November 12th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $104.81 million for the quarter, compared to analyst estimates of $102.74 million. As a group, sell-side analysts expect that Rocket Lab USA will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. This represents a 4.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,521 shares of company stock worth $906,059. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently modified their holdings of the business. Verition Fund Management LLC acquired a new stake in Rocket Lab USA in the 3rd quarter valued at approximately $325,000. Rockefeller Capital Management L.P. increased its stake in Rocket Lab USA by 5.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 241,472 shares of the rocket manufacturer’s stock worth $2,350,000 after buying an additional 12,753 shares during the period. FORA Capital LLC purchased a new position in Rocket Lab USA in the 3rd quarter valued at approximately $449,000. D.A. Davidson & CO. acquired a new position in shares of Rocket Lab USA in the third quarter worth $116,000. Finally, Citigroup Inc. increased its position in shares of Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after acquiring an additional 220,432 shares during the period. 71.78% of the stock is currently owned by hedge funds and other 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.