Rocket Lab USA (NASDAQ:RKLB) Trading 0.5% Higher – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded up 0.5% during trading on Monday . The company traded as high as $24.68 and last traded at $24.53. 5,656,696 shares changed hands during trading, a decline of 53% from the average session volume of 12,054,020 shares. The stock had previously closed at $24.42.

Analyst Upgrades and Downgrades

RKLB has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. JMP Securities began coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. KeyCorp boosted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup lifted their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA Stock Up 1.8 %

The stock has a market cap of $13.18 billion, a price-to-earnings ratio of -71.27 and a beta of 1.96. The stock has a 50 day simple moving average of $17.23 and a 200 day simple moving average of $9.93. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Insider Activity at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the transaction, the general counsel now owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently bought and sold shares of RKLB. Geode Capital Management LLC boosted its holdings 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 worth $80,317,000 after acquiring an additional 898,223 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Rocket Lab USA by 6.6% during the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after purchasing an additional 391,778 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rocket Lab USA by 22.7% during the third 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 during the last quarter. American Century Companies Inc. grew its position in Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after buying an additional 432,501 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.