Rocket Lab USA (NASDAQ:RKLB) Trading 0.9% Higher – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) rose 0.9% on Thursday . The company traded as high as $27.20 and last traded at $25.67. Approximately 26,547,281 shares were traded during trading, an increase of 129% from the average daily volume of 11,610,826 shares. The stock had previously closed at $25.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. KeyCorp increased their target price on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. 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 research note on Wednesday, November 13th. Wells Fargo & Company boosted their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Citigroup upped their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Bank of America lifted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” 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 MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Price Performance

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’s 50-day moving average price is $13.66 and its 200-day moving average price is $8.22. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of -73.73 and a beta of 1.29.

Insiders Place Their Bets

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

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at $107,000. Sanctuary Advisors LLC increased its holdings in Rocket Lab USA by 34.0% in the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock valued at $207,000 after purchasing an additional 5,381 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in Rocket Lab USA in the third quarter valued at about $106,000. Geode Capital Management LLC boosted its holdings in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Rocket Lab USA by 22.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after buying an additional 41,551 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

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.