Rocket Lab USA (NASDAQ:RKLB) Price Target Lowered to $33.00 at Citigroup

Rocket Lab USA (NASDAQ:RKLB) had its price objective decreased by equities research analysts at Citigroup from $35.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the rocket manufacturer’s stock. Citigroup’s target price would indicate a potential upside of 61.42% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Bank of America boosted their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average price target of $21.61.

Rocket Lab USA Trading Up 3.1 %

Shares of Rocket Lab USA stock opened at $20.44 on Friday. The firm has a market capitalization of $10.22 billion, a PE ratio of -55.25 and a beta of 1.99. 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 firm’s 50 day moving average is $26.71 and its 200 day moving average is $17.91. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Equities research analysts forecast that Rocket Lab USA will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA during the 4th quarter worth approximately $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA during the 4th quarter worth approximately $40,000. Quarry LP acquired a new position in Rocket Lab USA during the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC raised its stake in Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after buying an additional 1,750 shares during the period. 71.78% of the stock is owned by institutional investors.

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.