Rocket Lab USA (NASDAQ:RKLB) Given New $32.00 Price Target at KeyCorp

Rocket Lab USA (NASDAQ:RKLB) had its price objective upped by research analysts at KeyCorp from $27.00 to $32.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the rocket manufacturer’s stock. KeyCorp’s price target would indicate a potential upside of 12.16% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Bank of America upped their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald upped their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Citigroup raised their price target on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company upped their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Trading Down 1.2 %

NASDAQ:RKLB opened at $28.53 on Wednesday. The company has a market capitalization of $14.26 billion, a PE ratio of -77.11 and a beta of 1.98. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $33.34. The stock has a fifty day simple moving average of $25.84 and a 200-day simple moving average of $14.68. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Insider Activity at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the firm’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 completion of the sale, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the transaction, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

Institutional investors have recently added to or reduced their stakes in the stock. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA in the 4th quarter worth about $40,000. New Millennium Group LLC raised its stake in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after buying an additional 1,050 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Rocket Lab USA in the 4th quarter worth approximately $76,000. Principal Securities Inc. increased its holdings in shares of Rocket Lab USA by 137.3% in the 4th quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock valued at $136,000 after acquiring an additional 3,099 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Rocket Lab USA by 478.6% during the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock worth $177,000 after purchasing an additional 5,762 shares during the last quarter. 71.78% of the stock is 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.