Rocket Lab USA (NASDAQ:RKLB) Shares Up 4.7% – Time to Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were up 4.7% during trading on Friday . The company traded as high as $24.60 and last traded at $24.32. Approximately 6,803,157 shares were traded during trading, a decline of 44% from the average daily volume of 12,151,901 shares. The stock had previously closed at $23.22.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RKLB shares. Cantor Fitzgerald boosted their target price 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. JMP Securities began coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Finally, KeyCorp boosted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Stock Up 6.5 %

The company’s fifty day simple moving average is $17.78 and its 200-day simple moving average is $10.12. The firm has a market capitalization of $12.36 billion, a PE ratio of -66.81 and a beta of 1.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the firm’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 transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the firm’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 sale, the general counsel now owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This represents a 4.48 % 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 valued at $38,168,400. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA in the second quarter worth $46,000. Amalgamated Bank increased its holdings in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares during the last quarter. CIBC Asset Management Inc bought a new position in Rocket Lab USA in the second quarter worth about $67,000. Sanctuary Advisors LLC bought a new position in shares of Rocket Lab USA during the second quarter worth about $76,000. Finally, National Bank of Canada FI boosted its position in Rocket Lab USA by 97.8% during the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 10,000 shares during the period. 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.