Analysts Set Rocket Lab Corporation (NASDAQ:RKLB) PT at $59.00

Shares of Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $61.25.

RKLB has been the topic of a number of research reports. KeyCorp raised their price target on Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Bank of America upped their price objective on Rocket Lab from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Roth Capital reiterated a “buy” rating and issued a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Robert W. Baird assumed coverage on shares of Rocket Lab in a research note on Wednesday, October 15th. They set an “outperform” rating and a $83.00 price target on the stock. Finally, Morgan Stanley cut their price objective on shares of Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th.

Get Our Latest Stock Analysis on RKLB

Insider Activity

In other news, Director Nina Armagno sold 27,314 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $68.21, for a total transaction of $1,863,087.94. Following the completion of the sale, the director directly owned 108,940 shares of the company’s stock, valued at approximately $7,430,797.40. The trade was a 20.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Merline Saintil sold 5,000 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00. Following the completion of the transaction, the director owned 388,529 shares in the company, valued at approximately $25,254,385. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,729,485 shares of company stock worth $151,832,870 in the last three months. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab

A number of hedge funds have recently added to or reduced their stakes in RKLB. Wilmington Savings Fund Society FSB bought a new stake in shares of Rocket Lab during the third quarter valued at approximately $25,000. Hara Capital LLC purchased a new stake in shares of Rocket Lab in the 3rd quarter worth $25,000. UMB Bank n.a. grew its position in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after buying an additional 423 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Rocket Lab during the third quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 416 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Trading Down 0.8%

RKLB opened at $76.55 on Monday. Rocket Lab has a one year low of $14.71 and a one year high of $79.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The business has a 50 day simple moving average of $55.08 and a two-hundred day simple moving average of $48.23. The firm has a market capitalization of $40.89 billion, a price-to-earnings ratio of -201.45 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLBGet Free Report) last issued its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $155.08 million for the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The company’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) EPS. Analysts predict that Rocket Lab will post -0.38 EPS for the current year.

Rocket Lab News Summary

Here are the key news stories impacting Rocket Lab this week:

Rocket Lab Company Profile

(Get Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

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Analyst Recommendations for Rocket Lab (NASDAQ:RKLB)

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