Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) Price Target at $22.72

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $22.72.

RKLB has been the topic of several recent research reports. KeyCorp dropped their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Citigroup decreased their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Wells Fargo & Company decreased their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley lifted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the transaction, the insider now directly owns 1,419,479 shares in the company, valued at $25,806,128.22. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at about $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $26,000. Versant Capital Management Inc raised its stake in shares of Rocket Lab USA by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock worth $28,000 after buying an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Rocket Lab USA during the 1st quarter valued at approximately $29,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Rocket Lab USA by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock valued at $35,000 after buying an additional 1,226 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Trading Down 1.2 %

Shares of RKLB stock opened at $19.74 on Wednesday. The company has a market cap of $8.95 billion, a PE ratio of -53.35 and a beta of 2.08. The stock’s 50 day simple moving average is $20.32 and its two-hundred day simple moving average is $20.78. Rocket Lab USA has a 1 year low of $3.49 and a 1 year high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Research analysts predict that Rocket Lab USA will post -0.38 earnings per share for the current year.

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.