Rocket Lab USA (NASDAQ:RKLB) Trading 4.7% Higher – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price shot up 4.7% during mid-day trading on Tuesday . The stock traded as high as $30.16 and last traded at $29.70. 7,968,118 shares traded hands during trading, a decline of 60% from the average session volume of 19,709,924 shares. The stock had previously closed at $28.38.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RKLB shares. Bank of America increased their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Citigroup upped their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. KeyCorp lifted their target price on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on 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 equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

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 stock has a market capitalization of $14.28 billion, a P/E ratio of -77.18 and a beta of 1.99. The company has a 50 day simple moving average of $26.07 and a 200-day simple moving average of $15.07.

Insider Activity at Rocket Lab USA

In related 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 value of $868,627.20. Following the sale, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in RKLB. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA in the fourth quarter valued at $40,000. New Millennium Group LLC boosted its holdings in shares of Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after purchasing an additional 1,050 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Rocket Lab USA during the 4th quarter valued at about $58,000. Sanctuary Advisors LLC purchased a new position in shares of Rocket Lab USA during the 2nd quarter valued at about $76,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Rocket Lab USA in the 4th quarter worth approximately $76,000. 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.