Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.5% – Here’s Why

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price traded up 0.5% during trading on Monday . The company traded as high as $24.68 and last traded at $24.53. 5,656,696 shares traded hands during trading, a decline of 53% from the average session volume of 12,054,020 shares. The stock had previously closed at $24.42.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Bank of America boosted their price target 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. Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, 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 research report on Monday, November 18th. Five equities research 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Stock 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 firm has a market capitalization of $13.18 billion, a PE ratio of -71.27 and a beta of 1.96. The company’s fifty day simple moving average is $17.23 and its 200 day simple moving average is $9.93.

Insider Activity

In other news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction 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 transaction, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently added to or reduced their stakes in the company. Ieq Capital LLC purchased a new stake in shares of Rocket Lab USA during the second quarter valued at approximately $5,469,000. Mizuho Markets Americas LLC bought a new position in shares of Rocket Lab USA in the 3rd quarter worth approximately $8,930,000. Geode Capital Management LLC lifted its position in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after purchasing an additional 432,501 shares in 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.