Rocket Lab USA (NASDAQ:RKLB) Trading 5.6% Higher – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was up 5.6% during trading on Monday . The stock traded as high as $29.14 and last traded at $28.95. Approximately 8,909,935 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 19,295,227 shares. The stock had previously closed at $27.41.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RKLB. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Citigroup upped their target price on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Wells Fargo & Company upped their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Finally, KeyCorp raised their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Price Performance

The firm has a market cap of $13.81 billion, a PE ratio of -74.65 and a beta of 1.99. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average price of $26.56 and a two-hundred day moving average price of $16.21.

Insiders Place Their Bets

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,124,530 shares of company stock valued at $38,404,700. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC lifted its holdings in shares of Rocket Lab USA by 4.0% in the 4th quarter. Headlands Technologies LLC now owns 332,320 shares of the rocket manufacturer’s stock valued at $8,464,000 after buying an additional 12,855 shares during the period. Geode Capital Management LLC grew its stake in shares of Rocket Lab USA by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock worth $211,084,000 after purchasing an additional 32,658 shares during the period. Franklin Resources Inc. increased its holdings in shares of Rocket Lab USA by 2,808.0% during the 4th quarter. Franklin Resources Inc. now owns 316,075 shares of the rocket manufacturer’s stock valued at $8,050,000 after purchasing an additional 305,206 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Rocket Lab USA by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 413,860 shares of the rocket manufacturer’s stock worth $10,541,000 after buying an additional 54,480 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Rocket Lab USA in the fourth quarter valued at $17,261,000. 71.78% of the stock is currently 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.