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

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares hit a new 52-week high on Monday . The company traded as high as $29.99 and last traded at $29.44, with a volume of 3757550 shares. The stock had previously closed at $28.74.

Analysts Set New Price Targets

RKLB has been the topic of several recent research reports. Citigroup increased their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Bank of America lifted 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. KeyCorp increased their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Cantor Fitzgerald boosted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company upped their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Trading Up 3.5 %

The company has a market capitalization of $14.87 billion, a P/E ratio of -80.40 and a beta of 1.98. 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 stock’s 50 day moving average is $21.22 and its 200-day moving average is $11.89.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. 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. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several large investors have recently modified their holdings of the stock. Everence Capital Management Inc. purchased a new position in Rocket Lab USA in the fourth quarter worth about $286,000. Franklin Resources Inc. bought a new stake in shares of Rocket Lab USA during the third quarter valued at approximately $107,000. Sanctuary Advisors LLC raised its holdings in Rocket Lab USA by 34.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after acquiring an additional 5,381 shares during the last quarter. Arete Wealth Advisors LLC purchased a new stake in Rocket Lab USA during the 3rd quarter valued at $106,000. Finally, Geode Capital Management LLC boosted its stake in Rocket Lab USA by 12.2% during 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 purchasing an additional 898,223 shares during the last quarter. Hedge funds and other institutional investors 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.