Rocket Lab USA (NASDAQ:RKLB) Trading 3.2% Higher – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 3.2% during mid-day trading on Monday . The stock traded as high as $25.00 and last traded at $24.68. 19,915,408 shares traded hands during trading, a decline of 39% from the average session volume of 32,821,616 shares. The stock had previously closed at $23.92.

Analyst Ratings Changes

Several research analysts recently commented on the company. KeyCorp lifted their price target 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. Bank of America boosted their target price 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. Stifel Nicolaus raised their price target 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. Citigroup boosted their price objective 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. Finally, JMP Securities assumed coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Performance

The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $12.34 billion, a PE ratio of -66.70 and a beta of 1.94. The firm’s 50-day simple moving average is $15.19 and its 200-day simple moving average is $8.96.

Insider Activity at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now directly owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,114,530 shares of company stock worth $38,168,400. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Citigroup Inc. increased its position in Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after buying an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 last quarter. FORA Capital LLC purchased a new stake in Rocket Lab USA in the third quarter valued at $449,000. Mizuho Markets Americas LLC acquired a new stake in Rocket Lab USA during the third quarter worth about $8,930,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Rocket Lab USA by 934.5% during the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock valued at $10,090,000 after purchasing an additional 88,686 shares in the last quarter. 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.