Rocket Lab USA (NASDAQ:RKLB) Trading Up 3.7% – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares shot up 3.7% during mid-day trading on Monday . The stock traded as high as $25.58 and last traded at $24.11. 21,203,754 shares changed hands during trading, an increase of 87% from the average session volume of 11,321,251 shares. The stock had previously closed at $23.26.

Wall Street Analysts Forecast Growth

RKLB has been the topic of a number of research reports. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald increased their price objective 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. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. JMP Securities initiated coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating for the company. Finally, KeyCorp raised their price objective on 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Rocket Lab USA Stock Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a market cap of $12.03 billion, a P/E ratio of -65.16 and a beta of 1.29. The firm has a 50 day moving average of $11.82 and a two-hundred day moving average of $7.52.

Insider Transactions at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in RKLB. Vanguard Group Inc. increased its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the period. Ieq Capital LLC bought a new stake in shares of Rocket Lab USA during the second quarter worth about $5,469,000. Mizuho Markets Americas LLC bought a new position in shares of Rocket Lab USA in the third quarter valued at approximately $8,930,000. Geode Capital Management LLC lifted its stake 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 acquiring an additional 898,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 purchasing an additional 532,207 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.