Rocket Lab USA (NASDAQ:RKLB) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) saw unusually-strong trading volume on Tuesday . Approximately 5,549,306 shares changed hands during mid-day trading, a decline of 51% from the previous session’s volume of 11,374,099 shares.The stock last traded at $25.97 and had previously closed at $24.06.

Analyst Ratings Changes

RKLB has been the subject of several research analyst reports. Bank of America lifted their target price on shares of 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 upped their target price 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. Wells Fargo & Company increased their price objective on Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. KeyCorp boosted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, JMP Securities initiated coverage on shares of 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 issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Up 9.1 %

The company’s 50-day simple moving average is $12.16 and its two-hundred day simple moving average is $7.66. The firm has a market cap of $13.12 billion, a PE ratio of -70.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Activity at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares in the company, valued at $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 available at this link. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC raised its stake in Rocket Lab USA by 34.0% in the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after buying an additional 5,381 shares in the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Rocket Lab USA during the 3rd quarter worth approximately $106,000. Geode Capital Management LLC raised its position in shares of Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Rocket Lab USA by 22.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock valued at $2,213,000 after purchasing an additional 41,551 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Rocket Lab USA during the third quarter valued at approximately $1,403,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.