Rocket Lab USA (NASDAQ:RKLB) Trading 0.2% Higher After Analyst Upgrade

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was up 0.2% during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $5.00 to $12.00. The Goldman Sachs Group currently has a neutral rating on the stock. Rocket Lab USA traded as high as $20.35 and last traded at $19.04. Approximately 11,937,438 shares changed hands during trading, an increase of 9% from the average daily volume of 10,949,754 shares. The stock had previously closed at $19.00.

Other research analysts also recently issued research reports about the company. Bank of America boosted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. KeyCorp increased 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 started coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note 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. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael D. Griffin sold 39,446 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. The trade was a 48.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,130,521 shares of company stock worth $36,366,059 in the last 90 days. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the period. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter worth approximately $8,930,000. International Assets Investment Management LLC lifted its position in shares of Rocket Lab USA by 934.5% during the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after buying an additional 88,686 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Rocket Lab USA by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after buying an additional 26,605 shares in the last quarter. Finally, Venture Visionary Partners LLC bought a new stake in Rocket Lab USA in the third quarter valued at $886,000. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Up 6.3 %

The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of -55.59 and a beta of 1.29. The firm has a 50 day simple moving average of $10.64 and a 200-day simple moving average of $7.03. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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.