Rocket Lab USA (NASDAQ:RKLB) Shares Up 4.7% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were up 4.7% during trading on Tuesday . The stock traded as high as $30.16 and last traded at $29.70. Approximately 7,968,118 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 19,709,924 shares. The stock had previously closed at $28.38.

Analyst Ratings Changes

Several brokerages have weighed in on RKLB. Citigroup lifted their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. KeyCorp raised their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group upped their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Trading Up 0.7 %

The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm’s 50-day moving average is $26.07 and its 200 day moving average is $15.07. The firm has a market capitalization of $14.28 billion, a price-to-earnings ratio of -77.18 and a beta of 1.99.

Insider Buying and Selling

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last ninety days. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA in the fourth quarter valued at $40,000. New Millennium Group LLC raised its stake in Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after buying an additional 1,050 shares during the period. Global Retirement Partners LLC bought a new position in Rocket Lab USA in the fourth quarter worth approximately $58,000. Sanctuary Advisors LLC acquired a new stake in Rocket Lab USA in the second quarter valued at approximately $76,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $76,000. Institutional investors own 71.78% of the company’s stock.

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.