Rocket Lab USA (NASDAQ:RKLB) Reaches New 12-Month High – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $28.80 and last traded at $28.44, with a volume of 19975090 shares traded. The stock had previously closed at $26.60.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Cantor Fitzgerald raised 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. Bank of America boosted their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group increased their target price on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus increased 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 note on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Trading Up 6.9 %

The company has a market capitalization of $14.22 billion, a PE ratio of -76.86 and a beta of 1.96. 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 is $19.39 and its two-hundred day moving average is $10.88.

Insider Activity

In related news, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in RKLB. International Assets Investment Management LLC acquired a new stake in Rocket Lab USA during the 2nd quarter valued at approximately $46,000. Amalgamated Bank boosted its holdings in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA during the 2nd quarter valued at about $67,000. Sanctuary Advisors LLC purchased a new stake in shares of Rocket Lab USA in the second quarter worth about $76,000. Finally, National Bank of Canada FI raised its position in Rocket Lab USA by 97.8% during the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after acquiring an additional 10,000 shares in the last quarter. 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.