Rocket Lab USA (NASDAQ:RKLB) Trading Up 1.2% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price rose 1.2% during mid-day trading on Thursday . The stock traded as high as $21.33 and last traded at $20.43. Approximately 8,092,830 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 11,120,335 shares. The stock had previously closed at $20.18.

Analysts Set New Price Targets

RKLB has been the subject of several recent analyst reports. Bank of America raised 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 note on Thursday, November 14th. KeyCorp raised their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald raised their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group raised 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. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Rocket Lab USA Stock Performance

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 company’s 50 day simple moving average is $11.51 and its 200-day simple moving average is $7.34.

Insider Activity at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP boosted its stake in Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 8,992 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA in the second quarter worth approximately $46,000. Baxter Bros Inc. bought a new position in shares of Rocket Lab USA in the second quarter worth approximately $48,000. Smith Anglin Financial LLC bought a new position in shares of Rocket Lab USA in the third quarter worth approximately $104,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after buying an additional 4,032 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.