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 increased by The Goldman Sachs Group from $12.00 to $13.50 in a research report report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the rocket manufacturer’s stock.

RKLB has been the topic of a number of other reports. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald lifted their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Citigroup increased their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. 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. Finally, Wells Fargo & Company increased their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.61.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $24.64 on Thursday. 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 firm has a market cap of $12.32 billion, a price-to-earnings ratio of -66.59 and a beta of 1.98. The stock’s fifty day moving average price is $23.84 and its two-hundred day moving average price is $13.13. Rocket Lab USA has a one year low of $3.47 and a one year high of $30.26.

Insider Activity

In other news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now owns 534,675 shares in the company, valued at $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its position in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares during the period. Sanctuary Advisors LLC bought a new position in Rocket Lab USA during the 2nd quarter worth $76,000. Allworth Financial LP lifted its holdings in Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after buying an additional 8,992 shares during the period. Smith Anglin Financial LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $104,000. Finally, Xponance Inc. increased its stake in shares of Rocket Lab USA by 29.1% in the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock valued at $106,000 after buying an additional 4,997 shares during the period. Institutional investors own 71.78% of the company’s stock.

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.