Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.4% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 0.4% on Friday . The company traded as high as $33.34 and last traded at $31.70. Approximately 13,036,962 shares were traded during trading, a decline of 37% from the average daily volume of 20,626,447 shares. The stock had previously closed at $31.57.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RKLB shares. Cantor Fitzgerald increased their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Bank of America increased their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. KeyCorp increased 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. Citigroup increased their price target on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

Rocket Lab USA Stock Performance

The firm has a market capitalization of $15.42 billion, a P/E ratio of -83.41 and a beta of 1.98. 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 50-day moving average of $24.78 and a 200-day moving average of $13.82.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the sale, the general counsel now directly owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the company’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 completion of the transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. 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. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently modified their holdings of RKLB. Amalgamated Bank lifted its stake in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. Xponance Inc. lifted its position in shares of Rocket Lab USA by 29.1% during the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock worth $106,000 after acquiring an additional 4,997 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Rocket Lab USA by 21.2% during the second quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer’s stock worth $985,000 after acquiring an additional 35,849 shares in the last quarter. Scientech Research LLC lifted its position in shares of Rocket Lab USA by 135.4% during the second quarter. Scientech Research LLC now owns 182,520 shares of the rocket manufacturer’s stock worth $876,000 after acquiring an additional 104,980 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Rocket Lab USA during the second quarter worth $154,000. 71.78% of the stock is owned by institutional investors.

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.