Rocket Lab USA (NASDAQ:RKLB) Reaches New 12-Month High – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares reached a new 52-week high on Monday . The stock traded as high as $29.99 and last traded at $29.44, with a volume of 3757550 shares trading hands. The stock had previously closed at $28.74.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RKLB shares. Citigroup upped their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. Bank of America increased their price objective 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. KeyCorp boosted their target price 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. Finally, The Goldman Sachs Group raised their price target on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA Trading Down 3.0 %

The business has a 50 day moving average of $21.91 and a 200 day moving average of $12.22. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of -75.54 and a beta of 1.98. 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 Transactions at Rocket Lab USA

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the company’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 value of $1,150,000.00. Following the completion of the sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares in the company, 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 worth $38,168,400. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of large investors have recently made changes to their positions in RKLB. Principal Financial Group Inc. lifted its holdings in Rocket Lab USA by 23.4% during the second quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock worth $226,000 after acquiring an additional 8,928 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Rocket Lab USA during the second quarter worth about $67,000. Rhumbline Advisers lifted its holdings in shares of Rocket Lab USA by 24.2% during the 2nd quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock valued at $2,305,000 after purchasing an additional 93,447 shares in the last quarter. National Bank of Canada FI grew its position in shares of Rocket Lab USA by 97.8% in the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 10,000 shares during the period. Finally, Arizona State Retirement System increased its stake in Rocket Lab USA by 21.2% during the 2nd quarter. Arizona State Retirement System now owns 89,008 shares of the rocket manufacturer’s stock worth $427,000 after purchasing an additional 15,565 shares in the last quarter. Institutional investors 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.