Brokerages Set Rocket Lab USA, Inc. (NASDAQ:RKLB) PT at $23.25

Rocket Lab USA, Inc. (NASDAQ:RKLB) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $23.50.

Several analysts have recently issued reports on the company. KeyCorp reduced their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Citigroup reduced their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Morgan Stanley increased their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. The Goldman Sachs Group increased their target price on Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Rocket Lab USA in a report on Tuesday.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds have recently made changes to their positions in RKLB. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the fourth quarter worth about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA during the fourth quarter worth approximately $26,000. Versant Capital Management Inc grew its stake in Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new stake in Rocket Lab USA during the first quarter worth approximately $29,000. Finally, Farther Finance Advisors LLC grew its stake in Rocket Lab USA by 181.1% during the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock worth $35,000 after purchasing an additional 1,226 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $25.22 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock’s fifty day moving average price is $20.04 and its two-hundred day moving average price is $22.31. Rocket Lab USA has a one year low of $4.15 and a one year high of $33.34. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of -68.16 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, equities analysts forecast that Rocket Lab USA will post -0.38 EPS for the current year.

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.