Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $22.00 at Stifel Nicolaus

Rocket Lab USA (NASDAQ:RKLB) had its price objective boosted by Stifel Nicolaus from $15.00 to $22.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the rocket manufacturer’s stock.

Several other research analysts have also weighed in on RKLB. The Goldman Sachs Group upped their price target on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 30th. JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. KeyCorp lifted their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Citigroup increased their target price on shares of Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus target price of $14.72.

Rocket Lab USA Price Performance

RKLB stock opened at $19.00 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.43 and a current ratio of 2.58. The firm’s 50-day moving average is $10.38 and its two-hundred day moving average is $6.87. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $22.55.

Insider Activity

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at $9,195,308.40. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This trade represents a 4.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock valued at $906,059 in the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RKLB. Geode Capital Management LLC boosted its stake in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Rocket Lab USA by 22.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after buying an additional 41,551 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Rocket Lab USA in the 3rd quarter valued at about $1,403,000. Main Management ETF Advisors LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at approximately $1,570,000. Finally, National Bank of Canada FI increased its stake in Rocket Lab USA by 149.2% in the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after acquiring an additional 30,178 shares during the last quarter. Institutional investors and hedge funds 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.