Rocket Lab USA (NASDAQ:RKLB) Reaches New 52-Week High – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price reached a new 52-week high on Thursday . The company traded as high as $27.20 and last traded at $25.67, with a volume of 26547281 shares changing hands. The stock had previously closed at $25.44.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. JMP Securities assumed coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup raised their price target 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. Finally, KeyCorp increased their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Up 6.3 %

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

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 directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Arjun Kampani sold 28,562 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the transaction, the general counsel now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 2,064,530 shares of company stock valued at $37,018,400. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased 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 valued at $119,192,000 after purchasing an additional 2,448,789 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Rocket Lab USA during the 2nd quarter valued at approximately $5,469,000. Mizuho Markets Americas LLC purchased a new position in shares of Rocket Lab USA during the 3rd quarter valued at approximately $8,930,000. Geode Capital Management LLC increased its holdings in shares of 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 valued at $28,006,000 after purchasing an additional 532,207 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.