Rocket Lab USA (NASDAQ:RKLB) Trading Up 5.2% – Should You Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were up 5.2% on Wednesday . The stock traded as high as $21.28 and last traded at $21.34. Approximately 6,510,065 shares changed hands during trading, a decline of 67% from the average daily volume of 19,580,816 shares. The stock had previously closed at $20.28.

Wall Street Analyst Weigh In

RKLB has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus upped their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Bank of America boosted their price objective 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. Finally, KeyCorp lifted their target price on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Five equities research 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. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Stock Up 2.7 %

The firm’s 50-day simple moving average is $26.90 and its two-hundred day simple moving average is $17.68. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of -56.69 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares in the company, valued at approximately $3,126,107.22. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 in the company, valued at $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. increased its holdings in Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after buying an additional 532,207 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. FORA Capital LLC purchased a new stake in shares of Rocket Lab USA during the third quarter worth about $449,000. Finally, National Bank of Canada FI increased its position in Rocket Lab USA by 149.2% during the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after purchasing an additional 30,178 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.