Rocket Lab USA (NASDAQ:RKLB) PT Raised to $11.00 at KeyCorp

Rocket Lab USA (NASDAQ:RKLB) had its target price lifted by KeyCorp from $8.00 to $11.00 in a report issued on Friday, Benzinga reports. They currently have an overweight rating on the rocket manufacturer’s stock.

Other research analysts have also issued reports about the stock. Citigroup boosted their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Roth Mkm reiterated a buy rating and set a $7.00 price target on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Cantor Fitzgerald reiterated an overweight rating and set a $7.00 price target on shares of Rocket Lab USA in a research note on Monday, September 23rd. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a research note on Tuesday, June 11th. They set a neutral rating and a $4.50 price target on the stock. Finally, JMP Securities started coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a market perform rating on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Rocket Lab USA has a consensus rating of Hold and an average price target of $6.68.

Rocket Lab USA Stock Down 0.5 %

Shares of RKLB opened at $9.73 on Friday. The firm has a fifty day moving average price of $6.26 and a 200 day moving average price of $5.00. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $10.29. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The business had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The business’s revenue was up 71.2% compared to the same quarter last year. Research analysts anticipate that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now directly owns 42,353 shares in the company, valued at $292,235.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares of the company’s stock, valued at $292,235.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 62,512 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 $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently modified their holdings of RKLB. Scotia Capital Inc. lifted its stake in shares of Rocket Lab USA by 146.4% during the fourth quarter. Scotia Capital Inc. now owns 40,390 shares of the rocket manufacturer’s stock valued at $223,000 after buying an additional 24,000 shares during the period. Virtu Financial LLC purchased a new position in shares of Rocket Lab USA during the fourth quarter valued at approximately $852,000. Vanguard Group Inc. raised its stake in Rocket Lab USA by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer’s stock worth $146,831,000 after purchasing an additional 451,370 shares during the period. Sanders Morris Harris LLC purchased a new position in Rocket Lab USA during the first quarter worth approximately $145,000. Finally, 180 Wealth Advisors LLC raised its stake in Rocket Lab USA by 35.3% during the first quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer’s stock worth $154,000 after purchasing an additional 9,747 shares during the period. Hedge funds and other 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.