Rocket Lab USA (NASDAQ:RKLB) Stock Price Expected to Rise, Citigroup Analyst Says

Rocket Lab USA (NASDAQ:RKLB) had its target price lifted by stock analysts at Citigroup from $22.00 to $35.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the rocket manufacturer’s stock. Citigroup’s price objective suggests a potential upside of 12.35% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Stifel Nicolaus boosted their price objective 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. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. KeyCorp boosted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald boosted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.06.

Rocket Lab USA Stock Performance

Rocket Lab USA stock traded up $7.15 on Tuesday, reaching $31.15. 19,931,121 shares of the stock were exchanged, compared to its average volume of 16,681,232. The stock has a market cap of $15.57 billion, a PE ratio of -84.20 and a beta of 1.98. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $30.26. The firm has a fifty day moving average price of $24.23 and a two-hundred day moving average price of $13.52.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the transaction, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last ninety days. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently made changes to their positions in RKLB. Amalgamated Bank increased its position in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Rocket Lab USA in the second quarter valued at $76,000. Allworth Financial LP lifted its stake in Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after acquiring an additional 8,992 shares during the last quarter. Smith Anglin Financial LLC acquired a new stake in Rocket Lab USA in the third quarter valued at $104,000. Finally, Xponance Inc. lifted its stake in Rocket Lab USA by 29.1% in the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock valued at $106,000 after acquiring an additional 4,997 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

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.