Rocket Lab USA (NASDAQ:RKLB) Trading 6.3% Higher – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price was up 6.3% on Monday . The company traded as high as $28.05 and last traded at $27.28. Approximately 19,870,548 shares changed hands during trading, an increase of 71% from the average daily volume of 11,646,910 shares. The stock had previously closed at $25.67.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of analyst reports. KeyCorp boosted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their target price on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald upped their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, JMP Securities assumed coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Performance

The business has a fifty day simple moving average of $14.30 and a two-hundred day simple moving average of $8.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Buying and Selling

In related news, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,064,530 shares of company stock worth $37,018,400 in the last 90 days. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in Rocket Lab USA in the second quarter worth $46,000. Baxter Bros Inc. acquired a new position in Rocket Lab USA during the 2nd quarter worth about $48,000. Amalgamated Bank grew its holdings in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Rocket Lab USA in the 2nd quarter valued at about $67,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Rocket Lab USA in the second quarter worth about $76,000. 71.78% of the stock is owned by institutional investors and hedge funds.

About Rocket Lab USA

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.