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

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

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

Rocket Lab USA Price Performance

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

Insider Transactions at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 28,563 shares of the business’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 $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The trade was a 4.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 approximately $9,195,308.40. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in RKLB. Geode Capital Management LLC raised its holdings in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position 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 acquiring an additional 41,551 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Rocket Lab USA in the third quarter valued at $1,403,000. Main Management ETF Advisors LLC purchased a new stake in Rocket Lab USA in the 3rd quarter valued at about $1,570,000. Finally, National Bank of Canada FI increased its stake in shares of Rocket Lab USA by 149.2% during the 3rd 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. Hedge funds and other institutional investors 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.