Rocket Lab USA (NASDAQ:RKLB) Stock Price Expected to Rise, Citigroup Analyst Says

Rocket Lab USA (NASDAQ:RKLB) had its target price lifted by stock analysts at Citigroup from $13.00 to $22.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the rocket manufacturer’s stock. Citigroup’s price objective points to a potential upside of 10.61% from the company’s current price.

Several other research firms have also recently issued reports on RKLB. Wells Fargo & Company boosted their price objective on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus increased their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, KeyCorp raised their price target 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.72.

Rocket Lab USA Trading Up 4.7 %

Shares of NASDAQ:RKLB traded up $0.89 on Monday, hitting $19.89. 18,460,277 shares of the company’s stock were exchanged, compared to its average volume of 10,979,005. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of -53.76 and a beta of 1.29. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $22.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The business’s 50 day simple moving average is $10.38 and its two-hundred day simple moving average is $6.92.

Insider Buying and Selling at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was 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. Over the last ninety days, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently bought and sold shares of RKLB. Vanguard Group Inc. lifted its stake in shares of Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares during the period. Geode Capital Management LLC grew its stake in 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 purchasing an additional 898,223 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of Rocket Lab USA by 6.6% in the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after purchasing an additional 391,778 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Rocket Lab USA by 22.7% in 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 last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Rocket Lab USA by 11.1% during the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.