Stifel Nicolaus Forecasts Strong Price Appreciation for Rocket Lab USA (NASDAQ:RKLB) Stock

Rocket Lab USA (NASDAQ:RKLB) had its price target increased by analysts at Stifel Nicolaus from $15.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the rocket manufacturer’s stock. Stifel Nicolaus’ target price indicates a potential upside of 26.73% from the stock’s previous close.

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

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $17.36 on Wednesday. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $22.55. The company’s 50 day moving average price is $9.89 and its 200-day moving average price is $6.70. The company has a current ratio of 2.58, a quick ratio of 2.43 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Tuesday, November 12th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $104.81 million for the quarter, compared to the consensus estimate of $102.74 million. As a group, sell-side analysts predict that Rocket Lab USA will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The trade was a 48.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock valued at $906,059 over the last ninety days. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds have recently made changes to their positions in RKLB. Verition Fund Management LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $325,000. Rockefeller Capital Management L.P. increased its position in Rocket Lab USA by 5.6% in the third quarter. Rockefeller Capital Management L.P. now owns 241,472 shares of the rocket manufacturer’s stock worth $2,350,000 after purchasing an additional 12,753 shares during the last quarter. FORA Capital LLC purchased a new stake in Rocket Lab USA during the third quarter valued at $449,000. D.A. Davidson & CO. bought a new position in Rocket Lab USA during the third quarter valued at $116,000. Finally, Citigroup Inc. grew its stake in shares of Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.