Rocket Lab Corporation (NASDAQ:RKLB) Receives $75.92 Average Target Price from Analysts

Rocket Lab Corporation (NASDAQ:RKLB) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $75.9167.

Several equities analysts have recently issued reports on the company. Bank of America upped their price target on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Wall Street Zen upgraded shares of Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. TD Cowen restated a “buy” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Finally, Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th.

Insider Buying and Selling

In related news, insider Frank Klein sold 100,000 shares of Rocket Lab stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the completion of the sale, the insider directly owned 1,169,487 shares of the company’s stock, valued at $85,314,076.65. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Merline Saintil sold 96,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total value of $8,311,680.00. Following the completion of the sale, the director owned 292,529 shares of the company’s stock, valued at $25,327,160.82. This represents a 24.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,362,428 shares of company stock worth $281,055,579 over the last 90 days. 11.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in shares of Rocket Lab by 114.0% during the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after buying an additional 92,849 shares during the period. NewEdge Advisors LLC raised its position in shares of Rocket Lab by 1,812.1% in the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after acquiring an additional 34,882 shares during the period. Jones Financial Companies Lllp raised its position in shares of Rocket Lab by 53.8% in the 1st quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after acquiring an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Rocket Lab by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after acquiring an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth boosted its stake in Rocket Lab by 1.0% during the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after acquiring an additional 681 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Up 2.0%

Shares of RKLB opened at $71.48 on Friday. The business’s fifty day moving average price is $77.63 and its two-hundred day moving average price is $62.44. The firm has a market capitalization of $38.18 billion, a price-to-earnings ratio of -193.18 and a beta of 2.20. Rocket Lab has a 52 week low of $14.71 and a 52 week high of $99.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.