Rocket Lab USA (NASDAQ:RKLB) Price Target Raised to $35.00

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its target price increased by Roth Capital from $25.00 to $35.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the rocket manufacturer's stock.

Other research analysts have also issued research reports about the stock. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. KeyCorp dropped their price objective 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. Wells Fargo & Company dropped their price objective 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. Morgan Stanley raised their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rocket Lab USA has an average rating of "Moderate Buy" and an average target price of $25.18.

Rocket Lab USA Price Performance

Rocket Lab USA stock traded down $0.70 during trading hours on Wednesday, reaching $26.65. 12,664,618 shares of the stock were exchanged, compared to its average volume of 16,338,452. The company has a market cap of $12.09 billion, a P/E ratio of -72.03 and a beta of 2.04. 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 $4.20 and a twelve month high of $33.34. The stock has a 50 day moving average of $21.73 and a two-hundred day moving average of $23.37.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm's revenue was up 32.1% compared to the same quarter last year. During the same period last year, the company posted ($0.09) EPS. Equities analysts expect that Rocket Lab USA will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Arjun Kampani sold 5,277 shares of Rocket Lab USA 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 in the company, valued at $17,071,091.82. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank Klein sold 44,553 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now owns 1,419,479 shares of the company's stock, valued at $25,806,128.22. This trade represents a 3.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,234 shares of company stock worth $1,081,690 in the last quarter. 13.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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