Rocket Lab USA (NASDAQ:RKLB) Trading Up 3% – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price shot up 3% during mid-day trading on Tuesday . The stock traded as high as $26.57 and last traded at $26.35. 4,679,493 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 12,206,382 shares. The stock had previously closed at $25.59.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RKLB. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Wells Fargo & Company increased their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Citigroup lifted their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Five equities research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Trading Up 3.9 %

The firm has a market capitalization of $13.30 billion, a PE ratio of -71.89 and a beta of 1.96. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company’s 50-day simple moving average is $18.08 and its 200 day simple moving average is $10.34.

Insider Activity at Rocket Lab USA

In other news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 over the last 90 days. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in shares of Rocket Lab USA by 4.4% in the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after buying an additional 1,709 shares during the last quarter. Wellington Shields & Co. LLC raised its stake in Rocket Lab USA by 3.8% in the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after acquiring an additional 2,503 shares during the last quarter. Amalgamated Bank raised its stake in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. Lakeridge Wealth Management LLC lifted its position in Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after acquiring an additional 3,000 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Rocket Lab USA by 28.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after purchasing an additional 3,220 shares during the last quarter. Hedge funds and other 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.