Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 6.3% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) rose 6.3% during mid-day trading on Wednesday . The stock traded as high as $26.50 and last traded at $25.69. Approximately 6,932,218 shares were traded during trading, a decline of 58% from the average daily volume of 16,558,580 shares. The stock had previously closed at $24.16.

Wall Street Analyst Weigh In

RKLB has been the topic of several research reports. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Cantor Fitzgerald lifted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Bank of America lifted their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Citigroup lifted their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.44.

Rocket Lab USA Stock Up 3.7 %

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 $12.52 billion, a PE ratio of -67.70 and a beta of 1.98. The business’s 50-day simple moving average is $23.38 and its 200-day simple moving average is $12.96.

Insiders Place Their Bets

In other news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 8,992 shares during the last quarter. Smith Anglin Financial LLC acquired a new stake in Rocket Lab USA during the 3rd quarter worth $104,000. Franklin Resources Inc. acquired a new stake in Rocket Lab USA during the 3rd quarter worth $107,000. Schneider Downs Wealth Management Advisors LP acquired a new stake in Rocket Lab USA during the 3rd quarter worth $107,000. Finally, Arete Wealth Advisors LLC acquired a new stake in Rocket Lab USA during the 3rd quarter worth $106,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.