Morgan Stanley Forecasts Strong Price Appreciation for Rocket Lab USA (NASDAQ:RKLB) Stock

Rocket Lab USA (NASDAQ:RKLB) had its target price hoisted by Morgan Stanley from $18.00 to $20.00 in a research report report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the rocket manufacturer’s stock.

Other analysts also recently issued reports about the company. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Bank of America lifted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. 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. Stifel Nicolaus lifted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Up 3.4 %

NASDAQ RKLB opened at $18.43 on Monday. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of -49.81 and a beta of 2.06. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average of $25.45 and a two-hundred day moving average of $18.58.

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

Hedge Funds Weigh In On Rocket Lab USA

Large investors have recently added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA in the fourth quarter worth about $25,000. Sandy Spring Bank acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at about $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after acquiring an additional 1,750 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Company Profile

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.