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 mid-day trading on Friday . The stock traded as high as $23.68 and last traded at $23.22, with a volume of 5384544 shares. The stock had previously closed at $22.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RKLB shares. Bank of America lifted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. KeyCorp increased their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Cantor Fitzgerald upped their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Performance

The stock has a 50 day moving average price of $11.51 and a two-hundred day moving average price of $7.34. The company has a market cap of $11.46 billion, a price-to-earnings ratio of -61.76 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.

Insider Activity

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Rocket Lab USA by 9.2% in 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 during the period. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA in the third quarter valued at approximately $8,930,000. International Assets Investment Management LLC boosted its holdings in shares of Rocket Lab USA by 934.5% in the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock valued at $10,090,000 after buying an additional 88,686 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Rocket Lab USA by 40.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock worth $440,000 after acquiring an additional 26,605 shares in the last quarter. Finally, Venture Visionary Partners LLC bought a new stake in Rocket Lab USA in the 3rd quarter valued at $886,000. 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.