Rocket Lab USA (NASDAQ:RKLB) Trading Up 8.5% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was up 8.5% on Friday . The company traded as high as $28.05 and last traded at $27.84. Approximately 11,754,099 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 11,604,330 shares. The stock had previously closed at $25.67.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. KeyCorp upped their price objective 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. Finally, Cantor Fitzgerald lifted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Stock Performance

The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm’s fifty day moving average is $13.66 and its 200 day moving average is $8.24. The company has a market cap of $13.64 billion, a PE ratio of -73.73 and a beta of 1.29.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the sale, the general counsel now owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the 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 sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,064,530 shares of company stock worth $37,018,400 in the last 90 days. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the last quarter. Ieq Capital LLC acquired a new position in Rocket Lab USA during the second quarter worth $5,469,000. Mizuho Markets Americas LLC purchased a new stake in Rocket Lab USA in the 3rd quarter valued at $8,930,000. Geode Capital Management LLC increased its stake in shares of 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 worth $80,317,000 after acquiring an additional 898,223 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 acquiring an additional 532,207 shares during the period. Hedge funds and other institutional investors 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.