Rocket Lab’s (RKLB) Buy Rating Reaffirmed at Stifel Nicolaus

Rocket Lab (NASDAQ:RKLB)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a report issued on Monday,Benzinga reports. They currently have a $105.00 target price on the rocket manufacturer’s stock, up from their previous target price of $90.00. Stifel Nicolaus’ target price would indicate a potential upside of 20.87% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Rocket Lab in a research note on Friday, March 13th. Wells Fargo & Company assumed coverage on Rocket Lab in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target for the company. Bank of America boosted their price objective on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Clear Str raised shares of Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, Citizens Jmp upgraded shares of Rocket Lab from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.31.

Rocket Lab Trading Up 2.4%

NASDAQ RKLB opened at $86.87 on Monday. The stock has a market capitalization of $49.46 billion, a price-to-earnings ratio of -233.02 and a beta of 2.20. The business’s fifty day moving average is $70.03 and its 200-day moving average is $66.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61. Rocket Lab has a one year low of $18.21 and a one year high of $99.58.

Insider Activity at Rocket Lab

In related news, CEO Peter Beck sold 18,857 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $1,312,258.63. Following the completion of the transaction, the chief executive officer directly owned 884,085 shares in the company, valued at $61,523,475.15. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Merline Saintil sold 18,126 shares of Rocket Lab stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.04, for a total value of $1,360,175.04. Following the sale, the director owned 261,903 shares of the company’s stock, valued at approximately $19,653,201.12. This trade represents a 6.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 233,449 shares of company stock valued at $16,487,233 in the last ninety days. 11.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab

Several institutional investors and hedge funds have recently made changes to their positions in RKLB. Wilmington Savings Fund Society FSB bought a new position in Rocket Lab in the third quarter valued at $25,000. Hara Capital LLC bought a new position in shares of Rocket Lab during the third quarter valued at approximately $25,000. Aventura Private Wealth LLC bought a new stake in Rocket Lab in the fourth quarter valued at $25,000. UMB Bank n.a. raised its holdings in Rocket Lab by 352.5% in the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after purchasing an additional 423 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of Rocket Lab in the 3rd quarter worth about $27,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.