The Goldman Sachs Group Issues Positive Forecast for Rocket Lab USA (NASDAQ:RKLB) Stock Price

Rocket Lab USA (NASDAQ:RKLB) had its price objective hoisted by The Goldman Sachs Group from $12.00 to $13.50 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the rocket manufacturer’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup lifted their target price on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Cantor Fitzgerald boosted their target price 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. Wells Fargo & Company raised their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Bank of America upped their price objective 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. Finally, KeyCorp raised their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.61.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $24.64 on Thursday. The business has a 50-day moving average price of $23.84 and a two-hundred day moving average price of $13.13. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $30.26. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a market cap of $12.32 billion, a P/E ratio of -66.59 and a beta of 1.98.

Insider Transactions at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 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 transaction of $689,772.30. Following the transaction, the general counsel now owns 608,996 shares in the company, valued at approximately $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last ninety days. 13.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently modified their holdings of the company. Ariose Capital Management Ltd purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $1,871,000. Udine Wealth Management Inc. bought a new position in Rocket Lab USA in the 4th quarter valued at $1,342,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Rocket Lab USA by 3.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer’s stock valued at $2,340,000 after purchasing an additional 3,479 shares during the last quarter. Connective Portfolio Management LLC bought a new stake in shares of Rocket Lab USA during the 4th quarter worth $586,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in shares of Rocket Lab USA in the 4th quarter worth about $1,758,000. 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.