Rocket Lab USA, Inc. (NASDAQ:RKLB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $16.50.

A number of research analysts recently commented on RKLB shares. Cantor Fitzgerald raised their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. KeyCorp upped their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Citigroup upped their target price on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th.

Insiders Place Their Bets

In other news, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds have recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC acquired a new position in Rocket Lab USA in the 3rd quarter valued at approximately $106,000. Geode Capital Management LLC grew its stake in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Rocket Lab USA by 22.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock valued at $2,213,000 after purchasing an additional 41,551 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Rocket Lab USA during the 3rd quarter worth $1,403,000. Finally, Main Management ETF Advisors LLC acquired a new position in Rocket Lab USA during the 3rd quarter worth about $1,570,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Trading Up 3.8 %

Shares of NASDAQ:RKLB opened at $23.26 on Friday. The company has a market capitalization of $11.63 billion, a P/E ratio of -62.86 and a beta of 1.29. 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 $11.82 and its 200 day simple moving average is $7.47. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $23.81.

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.