The Goldman Sachs Group Increases Rocket Lab USA (NASDAQ:RKLB) Price Target to $16.00

Rocket Lab USA (NASDAQ:RKLB) had its price objective boosted by The Goldman Sachs Group from $14.35 to $16.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the rocket manufacturer’s stock. The Goldman Sachs Group’s target price points to a potential downside of 24.12% from the company’s current price.

Several other analysts also recently weighed in on RKLB. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Citigroup decreased their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Needham & Company LLC assumed coverage on Rocket Lab USA in a report on Friday, April 25th. They issued a “buy” rating and a $28.00 target price on the stock. 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 on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley lifted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Rocket Lab USA Stock Up 2.8%

RKLB traded up $0.58 during trading on Monday, reaching $21.09. 11,198,220 shares of the stock were exchanged, compared to its average volume of 15,632,909. The stock has a market cap of $9.56 billion, a P/E ratio of -57.12 and a beta of 2.04. Rocket Lab USA has a twelve month low of $4.15 and a twelve month high of $33.34. The stock’s 50 day moving average price is $19.69 and its two-hundred day moving average price is $22.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

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

Insider Buying and Selling

In related news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently bought and sold shares of RKLB. Vanguard Group Inc. increased its position in 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 during the last quarter. Geode Capital Management LLC lifted its position in Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after acquiring an additional 32,658 shares in the last quarter. FMR LLC lifted its position in Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. Northern Trust Corp lifted its position in Rocket Lab USA by 9.5% during the 4th 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. Finally, Charles Schwab Investment Management Inc. lifted its position in Rocket Lab USA by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock worth $73,919,000 after buying an additional 23,855 shares in the last quarter. Institutional investors and hedge funds 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.