Rocket Lab USA (NASDAQ:RKLB) Trading Up 3.8% – Time to Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) rose 3.8% during mid-day trading on Monday . The company traded as high as $30.26 and last traded at $29.82. Approximately 9,844,428 shares traded hands during trading, a decline of 32% from the average daily volume of 14,411,775 shares. The stock had previously closed at $28.74.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. KeyCorp boosted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price 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, November 19th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Stock Performance

The company has a market cap of $14.44 billion, a P/E ratio of -78.05 and a beta of 1.98. The business has a 50 day moving average price of $21.22 and a two-hundred day moving average price of $11.89. 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, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the transaction, the general counsel now directly owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Rocket Lab USA by 12.2% during the 3rd 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. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares in the last quarter. American Century Companies Inc. increased its position in shares of Rocket Lab USA by 11.1% during the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares during the period. Ieq Capital LLC bought a new position in Rocket Lab USA in the second quarter worth about $5,469,000. Finally, Mizuho Markets Americas LLC bought a new stake in Rocket Lab USA during the 3rd quarter valued at approximately $8,930,000. Hedge funds and other 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.