Cantor Fitzgerald Raises Rocket Lab USA (NASDAQ:RKLB) Price Target to $24.00

Rocket Lab USA (NASDAQ:RKLB) had its price target hoisted by Cantor Fitzgerald from $7.00 to $24.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the rocket manufacturer’s stock.

RKLB has been the topic of a number of other reports. JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Wells Fargo & Company boosted their price target on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Stifel Nicolaus boosted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp boosted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.72.

Rocket Lab USA Stock Up 9.4 %

NASDAQ RKLB opened at $19.00 on Thursday. The stock’s 50 day moving average is $10.38 and its 200 day moving average is $6.90. 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 stock has a market cap of $9.44 billion, a PE ratio of -51.35 and a beta of 1.29.

Insider Activity at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. This represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares in the company, valued at $292,235.70. The trade was a 48.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,521 shares of company stock worth $906,059. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several hedge funds and other institutional investors have recently bought and sold shares of RKLB. Vanguard Group Inc. raised its holdings in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares during the period. Ieq Capital LLC bought a new position in Rocket Lab USA in the 2nd quarter valued at $5,469,000. Mizuho Markets Americas LLC bought a new position in Rocket Lab USA in the 3rd quarter valued at $8,930,000. Geode Capital Management LLC grew its position in Rocket Lab USA by 12.2% in 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 acquiring an additional 898,223 shares during the last quarter. Finally, Tocqueville Asset Management L.P. grew its position in Rocket Lab USA by 217.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock valued at $5,277,000 after acquiring an additional 879,160 shares during the last quarter. Hedge funds and other 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.