Rocket Lab USA (NASDAQ:RKLB) Trading Up 3.7% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 3.7% during trading on Monday . The stock traded as high as $25.58 and last traded at $24.11. Approximately 21,203,754 shares were traded during mid-day trading, an increase of 87% from the average daily volume of 11,321,251 shares. The stock had previously closed at $23.26.

Analysts Set New Price Targets

Several brokerages recently commented on RKLB. Cantor Fitzgerald boosted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Citigroup raised their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company upped their target price on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Rocket Lab USA Price Performance

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 has a fifty day simple moving average of $11.82 and a 200-day simple moving average of $7.52. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of -65.16 and a beta of 1.29.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction on 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 $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares in the last quarter. Geode Capital Management LLC boosted its position 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 worth $80,317,000 after purchasing an additional 898,223 shares during the period. ARK Investment Management LLC grew its position in Rocket Lab USA by 6.6% in the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after acquiring an additional 391,778 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 buying an additional 532,207 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Rocket Lab USA by 11.1% during the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after buying an additional 284,360 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.