Rocket Lab (NASDAQ:RKLB) Receives “Buy” Rating from Stifel Nicolaus

Rocket Lab (NASDAQ:RKLB)‘s stock had its “buy” rating reiterated by equities researchers at Stifel Nicolaus in a note issued to investors on Monday,Benzinga reports. They presently have a $105.00 price target on the rocket manufacturer’s stock, up from their previous price target of $90.00. Stifel Nicolaus’ price target points to a potential upside of 20.87% from the company’s current price.

Other equities research analysts have also issued reports about the company. Morgan Stanley upgraded shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $67.00 to $105.00 in a report on Friday, January 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. TD Cowen reissued a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Finally, Citigroup upgraded shares of Rocket Lab from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and an average target price of $83.31.

Rocket Lab Stock Performance

Rocket Lab stock opened at $86.87 on Monday. 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 fifty-two week low of $18.21 and a fifty-two week high of $99.58. The firm’s 50 day simple moving average is $70.03 and its 200-day simple moving average is $66.86. The company has a market cap of $49.46 billion, a P/E ratio of -233.02 and a beta of 2.20.

Insider Buying and Selling

In other news, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $4,366,354.96. Following the completion of the sale, the chief financial officer owned 1,296,824 shares of the company’s stock, valued at approximately $90,245,982.16. This represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Peter Beck sold 18,857 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $61,523,475.15. The trade was a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 233,449 shares of company stock valued at $16,487,233. 11.90% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after buying an additional 5,610,469 shares during the period. Baillie Gifford & Co. increased its position in Rocket Lab by 47.2% during the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after acquiring an additional 5,725,536 shares during the period. Capital World Investors increased its holdings in shares of Rocket Lab by 12.0% during the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after purchasing an additional 1,738,623 shares during the period. State Street Corp boosted its stake in shares of Rocket Lab by 1.0% in the fourth quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer’s stock valued at $873,411,000 after buying an additional 120,652 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Rocket Lab by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer’s stock valued at $626,605,000 after buying an additional 825,158 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

About Rocket Lab

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.