Stifel Nicolaus Issues Positive Forecast for Rocket Lab USA (NASDAQ:RKLB) Stock Price

Rocket Lab USA (NASDAQ:RKLB) had its price target increased by Stifel Nicolaus from $26.00 to $31.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the rocket manufacturer’s stock.

A number of other equities analysts also recently commented on RKLB. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Bank of America upped their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. 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 note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus price target of $18.44.

Rocket Lab USA Stock Down 2.1 %

NASDAQ:RKLB opened at $27.36 on Wednesday. The stock has a 50-day simple moving average of $22.23 and a 200 day simple moving average of $12.33. Rocket Lab USA has a one year low of $3.47 and a one year high of $30.26. The company has a market capitalization of $13.68 billion, a price-to-earnings ratio of -73.94 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’s 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 sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock worth $38,168,400 in the last three months. 13.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently made changes to their positions in the business. Everence Capital Management Inc. acquired a new stake in shares of Rocket Lab USA during the 4th quarter valued at $286,000. Franklin Resources Inc. purchased a new position in Rocket Lab USA in the third quarter valued at about $107,000. Sanctuary Advisors LLC increased its position in Rocket Lab USA by 34.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after purchasing an additional 5,381 shares during the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth about $106,000. Finally, Geode Capital Management LLC lifted its holdings 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 valued at $80,317,000 after buying an additional 898,223 shares during the last quarter. Institutional investors and hedge funds 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.