Rocket Lab USA, Inc. (NASDAQ:RKLB) Receives 20.14 Average Price Target from Analysts

Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) has been given an average recommendation of “Buy” by the eight ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is 20.14.

RKLB has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Rocket Lab USA in a research note on Wednesday, January 12th. They issued an “overweight” rating and a $17.00 target price for the company. Roth Capital assumed coverage on shares of Rocket Lab USA in a research note on Wednesday, February 23rd. They set a “buy” rating and a $20.00 price target for the company. Stifel Nicolaus boosted their price target on shares of Rocket Lab USA from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, March 1st. Bank of America dropped their price target on shares of Rocket Lab USA from $20.00 to $15.00 in a research note on Wednesday, January 19th. Finally, Zacks Investment Research downgraded shares of Rocket Lab USA from a “hold” rating to a “sell” rating in a research note on Thursday, March 31st.

Shares of NASDAQ RKLB traded up 0.03 during trading on Monday, reaching 7.83. The company had a trading volume of 2,441,500 shares, compared to its average volume of 4,146,583. Rocket Lab USA has a 52 week low of 7.51 and a 52 week high of 21.34. The company has a current ratio of 8.04, a quick ratio of 7.55 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is 8.84 and its 200-day moving average price is 11.47.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $36,000. Arkadios Wealth Advisors acquired a new position in Rocket Lab USA during the third quarter valued at approximately $48,000. Brighton Jones LLC grew its holdings in Rocket Lab USA by 11.6% during the fourth quarter. Brighton Jones LLC now owns 35,813 shares of the rocket manufacturer’s stock valued at $440,000 after purchasing an additional 3,734 shares during the period. Magnolia Capital Advisors LLC grew its holdings in Rocket Lab USA by 26.2% during the fourth quarter. Magnolia Capital Advisors LLC now owns 25,628 shares of the rocket manufacturer’s stock valued at $315,000 after purchasing an additional 5,328 shares during the period. Finally, Sanders Morris Harris LLC grew its holdings in Rocket Lab USA by 25.4% during the fourth quarter. Sanders Morris Harris LLC now owns 30,900 shares of the rocket manufacturer’s stock valued at $379,000 after purchasing an additional 6,250 shares during the period. Hedge funds and other institutional investors own 60.14% of the company’s stock.

About Rocket Lab USA (Get Rating)

Rocket Lab USA, Inc, an aerospace company, focuses on developing rocket launch and control systems for the space and defense industries. The company provides launch services, spacecraft components, satellites and other spacecraft, and on-orbit management solutions; and designs, manufactures, and sells Electron and Neutron launch vehicles, as well as offers Photon platform for spacecraft solutions.

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