Rocket Lab Corporation (NASDAQ:RKLB) Given Consensus Rating of “Moderate Buy” by Brokerages

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $75.9167.

A number of equities research analysts have recently issued reports on RKLB shares. The Goldman Sachs Group boosted their price target on shares of Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Wall Street Zen raised shares of Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Bank of America lifted their target price on shares of Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. KeyCorp lowered Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Rocket Lab in a research note on Friday, March 13th.

View Our Latest Stock Report on RKLB

Insider Transactions at Rocket Lab

In related news, CEO Peter Beck sold 18,857 shares of the 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 transaction, the chief executive officer owned 884,085 shares of the company’s stock, valued at approximately $61,523,475.15. This represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frank Klein sold 36,768 shares of Rocket Lab stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total value of $2,645,457.60. Following the completion of the transaction, the insider directly owned 1,088,237 shares of the company’s stock, valued at approximately $78,298,652.15. This represents a 3.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,807,614 shares of company stock worth $136,326,621. 11.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RKLB. Baillie Gifford & Co. lifted its holdings in Rocket Lab by 176.1% during the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after buying an additional 7,734,788 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after acquiring an additional 5,610,469 shares in the last quarter. Norges Bank purchased a new stake in shares of Rocket Lab during the fourth quarter worth $341,036,000. Invesco Ltd. increased its position in shares of Rocket Lab by 67.0% during the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after acquiring an additional 2,504,054 shares during the period. Finally, Marex Group plc acquired a new stake in shares of Rocket Lab in the second quarter valued at $74,359,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab Trading Up 11.9%

NASDAQ RKLB opened at $64.22 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61. The stock has a market capitalization of $36.44 billion, a P/E ratio of -173.56 and a beta of 2.20. The firm’s 50-day moving average is $72.64 and its two-hundred day moving average is $64.81. Rocket Lab has a 12 month low of $14.71 and a 12 month high of $99.58.

Key Headlines Impacting Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

About Rocket Lab

(Get Free Report)

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.

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Analyst Recommendations for Rocket Lab (NASDAQ:RKLB)

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