Rocket Lab USA (NASDAQ:RKLB) Shares Gap Up – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares gapped up before the market opened on Monday . The stock had previously closed at $23.26, but opened at $25.39. Rocket Lab USA shares last traded at $24.02, with a volume of 10,518,405 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America boosted their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Citigroup upped their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. The Goldman Sachs Group upped 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. JMP Securities began coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Finally, Stifel Nicolaus upped their price objective 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Stock Up 2.7 %

The stock has a fifty day moving average of $11.82 and a two-hundred day moving average of $7.52. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of -65.16 and a beta of 1.29.

Insider Buying and Selling

In other news, 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 in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently added to or reduced their stakes in RKLB. ProShare Advisors LLC increased its stake in shares of Rocket Lab USA by 10.2% in the first quarter. ProShare Advisors LLC now owns 50,879 shares of the rocket manufacturer’s stock worth $209,000 after acquiring an additional 4,713 shares during the last quarter. Vanguard Group Inc. lifted its stake in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the period. Advisors Asset Management Inc. lifted its stake in Rocket Lab USA by 59.4% during the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after purchasing an additional 4,032 shares during the period. Lazard Asset Management LLC bought a new position in Rocket Lab USA during the first quarter worth about $175,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Rocket Lab USA by 153.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 380,965 shares of the rocket manufacturer’s stock worth $1,567,000 after buying an additional 230,931 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.