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

Rocket Lab USA (NASDAQ:RKLB) had its price target lifted by equities researchers at The Goldman Sachs Group from $12.00 to $13.50 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the rocket manufacturer’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 45.34% from the company’s current price.

RKLB has been the subject of several other reports. Wells Fargo & Company upped their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Citigroup lifted their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Bank of America increased their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.61.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock traded down $0.17 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 debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a market cap of $12.35 billion, a PE 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 one year low of $3.47 and a one year high of $30.26.

Insider Buying and Selling at Rocket Lab USA

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RKLB. Ariose Capital Management Ltd purchased a new stake in Rocket Lab USA during the fourth quarter worth about $1,871,000. Udine Wealth Management Inc. bought a new position in shares of Rocket Lab USA during the 4th quarter valued at approximately $1,342,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Rocket Lab USA by 3.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer’s stock worth $2,340,000 after purchasing an additional 3,479 shares during the last quarter. Connective Portfolio Management LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter worth approximately $586,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in Rocket Lab USA during the fourth quarter valued at $1,758,000. Institutional investors 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.