Morgan Stanley Issues Positive Forecast for Rocket Lab USA (NASDAQ:RKLB) Stock Price

Rocket Lab USA (NASDAQ:RKLB) had its price target upped by research analysts at Morgan Stanley from $18.00 to $20.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the rocket manufacturer’s stock. Morgan Stanley’s target price would suggest a potential upside of 6.38% from the company’s previous close.

Several other research firms have also recently weighed in on RKLB. Cantor Fitzgerald upped their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus upped their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Citigroup decreased their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company dropped their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, KeyCorp reduced their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Stock Up 0.8 %

RKLB stock opened at $18.80 on Monday. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $33.34. The business has a 50-day simple moving average of $25.93 and a 200 day simple moving average of $18.44. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a market cap of $9.40 billion, a PE ratio of -50.81 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly 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 firm had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Sell-side analysts anticipate that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Nina Armagno sold 10,000 shares of the business’s 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 sale, the director now owns 132,294 shares of the company’s stock, valued at $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in shares of Rocket Lab USA by 33.1% during the third quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer’s stock worth $1,275,000 after acquiring an additional 32,618 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Rocket Lab USA during the 3rd quarter worth approximately $132,000. GSA Capital Partners LLP acquired a new position in shares of Rocket Lab USA in the 3rd quarter worth approximately $139,000. Verus Capital Partners LLC boosted its stake in shares of Rocket Lab USA by 42.7% in the 3rd quarter. Verus Capital Partners LLC now owns 47,310 shares of the rocket manufacturer’s stock valued at $460,000 after purchasing an additional 14,150 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Rocket Lab USA by 4.4% during the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after buying an additional 1,709 shares during the period. 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.