Fintel reports that on August 9, 2023, Wells Fargo maintained coverage of Rocket Lab USA (NASDAQ:RKLB) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 47.37% Upside
As of August 2, 2023, the average one-year price target for Rocket Lab USA is 9.51. The forecasts range from a low of 4.60 to a high of $14.70. The average price target represents an increase of 47.37% from its latest reported closing price of 6.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rocket Lab USA is 293MM, an increase of 26.33%. The projected annual non-GAAP EPS is -0.21.
What is the Fund Sentiment?
There are 340 funds or institutions reporting positions in Rocket Lab USA. This is an increase of 1 owner(s) or 0.29% in the last quarter. Average portfolio weight of all funds dedicated to RKLB is 0.38%, an increase of 11.58%. Total shares owned by institutions increased in the last three months by 1.23% to 272,245K shares. 
The put/call ratio of RKLB is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
Vk Services holds 74,753K shares representing 15.62% ownership of the company. No change in the last quarter.
Deer Management Co. holds 57,024K shares representing 11.91% ownership of the company. No change in the last quarter.
StepStone Group holds 12,273K shares representing 2.56% ownership of the company. No change in the last quarter.
XAR - SPDR(R) S&P(R) Aerospace & Defense ETF holds 10,916K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 10,120K shares, representing an increase of 7.29%. The firm increased its portfolio allocation in RKLB by 4.16% over the last quarter.
Vector Capital Management holds 9,623K shares representing 2.01% ownership of the company. No change in the last quarter.
Rocket Lab USA Background Information
(This description is provided by the company.)
Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, spacecraft components, satellites and other spacecraft and on-orbit management solutions that make it faster, easier and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle and the Photon satellite platform and is developing the Neutron 8-ton payload class launch vehicle. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 105 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s Photon spacecraft platform has been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand, one of which is currently operational, and a second launch site in Virginia, USA which is expected to become operational by the end of 2021.
Additional reading:
- Form of Indemnification Agreement
- Form of Certificate of Corporate Domestication of Vector Acquisition Corporation, to be filed with the Secretary of the State of Delaware.
- Form of Proxy Card for annual general meeting.
- Employment Agreement, dated September 9, 2013, between Rocket Lab Limited and Shaun O’Donnell, as updated on August 21, 2014.
- Second Amended and Restated 2013 Stock Option and Grant Plan.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
