Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 0.8% – Here’s Why

Rocket Lab USA, Inc. (NASDAQ:RKLB) was up 0.8% on Thursday . The stock traded as high as $22.16 and last traded at $21.42. Approximately 6,527,898 shares changed hands during trading, a decline of 67% from the average daily volume of 19,496,262 shares. The stock had previously closed at $21.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. KeyCorp increased their target price on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday. Finally, Bank of America increased their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Five 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 stock. According to data from MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Stock Performance

The firm has a market capitalization of $9.91 billion, a PE ratio of -53.59 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The business has a 50-day simple moving average of $26.86 and a 200-day simple moving average of $17.70.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction on 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 directly owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly 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. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA in the fourth quarter worth $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter worth $40,000. Quarry LP purchased a new position in shares of Rocket Lab USA during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC lifted its position in Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after purchasing an additional 1,750 shares during the period. 71.78% of the stock is currently owned by 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.