Rocket Lab USA (NASDAQ:RKLB) Shares Up 1.9% – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price shot up 1.9% during mid-day trading on Tuesday . The stock traded as high as $24.40 and last traded at $23.69. 5,835,754 shares were traded during trading, a decline of 51% from the average session volume of 12,009,244 shares. The stock had previously closed at $23.24.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RKLB. Bank of America increased their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus increased their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price objective 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. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald increased their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company’s 50 day moving average is $15.46 and its two-hundred day moving average is $9.09. The firm has a market cap of $11.63 billion, a P/E ratio of -64.03 and a beta of 1.94.

Insider Activity

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction on 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 sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently bought and sold shares of RKLB. Geode Capital Management LLC lifted its position in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after purchasing an additional 391,778 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after purchasing an additional 432,501 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.