Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $34.00 at Stifel Nicolaus

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its price objective increased by Stifel Nicolaus from $29.00 to $34.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the rocket manufacturer's stock.

Several other analysts have also recently commented on RKLB. Needham & Company LLC lifted their price objective on shares of Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup cut their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, KeyCorp cut their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.18.

Rocket Lab USA Stock Performance

NASDAQ RKLB traded down $0.70 on Wednesday, hitting $26.65. 12,664,618 shares of the company's stock traded hands, compared to its average volume of 16,338,452. 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 1-year low of $4.20 and a 1-year high of $33.34. The firm's 50-day moving average price is $21.73 and its two-hundred day moving average price is $23.37. The firm has a market capitalization of $12.09 billion, a PE ratio of -72.03 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate 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 business had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The business's revenue was up 32.1% on a year-over-year basis. As a group, analysts expect that Rocket Lab USA will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Arjun Kampani sold 5,277 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total value of $158,151.69. Following the completion of the sale, the insider now owns 569,606 shares of the company's stock, valued at approximately $17,071,091.82. The trade was a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank Klein sold 44,553 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the sale, the insider now directly owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. The trade was a 3.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,234 shares of company stock valued at $1,081,690. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Vanguard Group Inc. grew its holdings in shares of Rocket Lab USA by 10.6% during the first quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock worth $715,728,000 after buying an additional 3,833,969 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Rocket Lab USA by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock worth $211,084,000 after buying an additional 32,658 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Rocket Lab USA by 56.1% during the first quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer's stock worth $66,840,000 after buying an additional 1,343,518 shares in the last quarter. FMR LLC grew its holdings in shares of Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after buying an additional 3,684,195 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Rocket Lab USA by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock worth $82,207,000 after buying an additional 281,339 shares in the last quarter. 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.