Stifel Nicolaus Forecasts Strong Price Appreciation for Rocket Lab USA (NASDAQ:RKLB) Stock

Rocket Lab USA (NASDAQ:RKLB) had its price objective upped by Stifel Nicolaus from $15.00 to $22.00 in a research report sent to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the rocket manufacturer’s stock.

Several other research analysts have also issued reports on RKLB. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. JMP Securities initiated coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating for the company. KeyCorp increased their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Rocket Lab USA in a report on Monday, September 30th. Finally, Citigroup raised their price objective on shares of Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.72.

Rocket Lab USA Stock Up 9.4 %

NASDAQ RKLB opened at $19.00 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.43 and a current ratio of 2.58. The firm has a 50-day simple moving average of $10.38 and a 200 day simple moving average of $6.87. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $22.55. The stock has a market cap of $9.44 billion, a PE ratio of -51.35 and a beta of 1.29.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Tuesday, November 12th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $104.81 million during the quarter, compared to analysts’ expectations of $102.74 million. On average, research analysts forecast that Rocket Lab USA will post -0.39 EPS for the current year.

Insider Activity

In other news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction 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 transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now directly owns 42,353 shares in the company, valued at approximately $292,235.70. This represents a 48.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock valued at $906,059 over the last three months. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Rocket Lab USA by 12.2% during 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 in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Rocket Lab USA by 22.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after acquiring an additional 41,551 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Rocket Lab USA during the third quarter worth $1,403,000. Main Management ETF Advisors LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth $1,570,000. Finally, National Bank of Canada FI raised its holdings in shares of Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after acquiring an additional 30,178 shares during the period. 71.78% of the stock is 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.