Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report)’s stock price traded up 2.5% during trading on Friday after Bank of America raised their price target on the stock from $10.00 to $30.00. Bank of America currently has a buy rating on the stock. Rocket Lab USA traded as high as $18.03 and last traded at $17.80. 10,191,857 shares changed hands during trading, a decline of 6% from the average session volume of 10,800,765 shares. The stock had previously closed at $17.36.
A number of other equities analysts also recently commented on RKLB. Cantor Fitzgerald raised their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup increased their target price on shares of Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. KeyCorp increased their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, JMP Securities initiated coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.72.
Insider Transactions at Rocket Lab USA
In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction that occurred 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 transaction, the director now owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The trade was a 48.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock worth $906,059 in the last quarter. 13.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares in the last quarter. International Assets Investment Management LLC bought a new position in Rocket Lab USA in the second quarter valued at approximately $46,000. Baxter Bros Inc. acquired a new stake in shares of Rocket Lab USA in the second quarter valued at approximately $48,000. Amalgamated Bank raised its holdings in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Rocket Lab USA in the second quarter valued at approximately $67,000. Institutional investors own 71.78% of the company’s stock.
Rocket Lab USA Stock Up 9.4 %
The company has a quick ratio of 2.43, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of -50.54 and a beta of 1.29. The stock’s fifty day moving average price is $10.11 and its 200-day moving average price is $6.77.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $104.81 million for the quarter, compared to the consensus estimate of $102.74 million. On average, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal 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.