Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $13.50 at The Goldman Sachs Group

Rocket Lab USA (NASDAQ:RKLB) had its target price hoisted by stock analysts at The Goldman Sachs Group from $12.00 to $13.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the rocket manufacturer’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 45.34% from the stock’s previous close.

A number of other equities research analysts have also issued reports on RKLB. KeyCorp lifted their target price 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 price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.61.

Rocket Lab USA Stock Down 0.7 %

RKLB stock traded down $0.17 during trading hours on Thursday, reaching $24.70. 6,763,995 shares of the stock were exchanged, compared to its average volume of 16,522,387. The company has a market cap of $12.35 billion, a price-to-earnings ratio of -66.75 and a beta of 1.98. The firm’s 50-day moving average is $23.61 and its 200-day moving average is $13.05. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $30.26. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insider Activity

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the sale, the general counsel now owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock valued at $38,168,400 over the last ninety days. 13.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RKLB. Ieq Capital LLC bought a new stake in shares of Rocket Lab USA in the second quarter valued at about $5,469,000. Mizuho Markets Americas LLC bought a new stake in Rocket Lab USA in the 3rd quarter valued at about $8,930,000. Geode Capital Management LLC grew its position in shares of Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares in the last quarter. Institutional investors 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.