Bank of America Raises Rocket Lab (NASDAQ:RKLB) Price Target to $60.00

Rocket Lab (NASDAQ:RKLB) had its price target hoisted by equities researchers at Bank of America from $50.00 to $60.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the rocket manufacturer’s stock. Bank of America‘s price target would indicate a potential upside of 40.74% from the stock’s previous close.

RKLB has been the subject of a number of other research reports. Stifel Nicolaus restated a “buy” rating and issued a $75.00 price target (up previously from $65.00) on shares of Rocket Lab in a research report on Tuesday, November 11th. Craig Hallum assumed coverage on shares of Rocket Lab in a research note on Monday, July 28th. They issued a “hold” rating and a $51.00 price objective on the stock. Cantor Fitzgerald raised their target price on shares of Rocket Lab from $35.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Morgan Stanley reduced their price target on shares of Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Finally, Roth Capital reiterated a “buy” rating and issued a $75.00 price target on shares of Rocket Lab in a research report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.17.

Rocket Lab Price Performance

Rocket Lab stock traded down $0.15 during mid-day trading on Wednesday, reaching $42.63. The company had a trading volume of 7,935,372 shares, compared to its average volume of 20,740,604. The stock’s 50-day simple moving average is $55.73 and its 200-day simple moving average is $43.33. Rocket Lab has a 1 year low of $14.71 and a 1 year high of $73.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The company has a market capitalization of $20.63 billion, a P/E ratio of -112.56 and a beta of 2.16.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $155.08 million for the quarter, compared to analysts’ expectations of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS. Rocket Lab has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Rocket Lab will post -0.38 EPS for the current year.

Insider Buying and Selling

In other news, insider Frank Klein sold 4,286 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $47.72, for a total transaction of $204,527.92. Following the completion of the transaction, the insider owned 1,316,005 shares of the company’s stock, valued at $62,799,758.60. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter Beck sold 1,436,442 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $48.75, for a total transaction of $70,026,547.50. Following the transaction, the chief executive officer owned 2,500,000 shares in the company, valued at approximately $121,875,000. The trade was a 36.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,406,361 shares of company stock worth $267,483,973 over the last ninety days. Insiders own 11.90% of the company’s stock.

Institutional Trading of Rocket Lab

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Rocket Lab in the third quarter valued at $25,000. Hara Capital LLC purchased a new position in shares of Rocket Lab in the 3rd quarter worth about $25,000. UMB Bank n.a. lifted its stake in shares of Rocket Lab by 352.5% in the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after purchasing an additional 423 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Rocket Lab in the 3rd quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 416 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Lab

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.