Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 3.9% – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 3.9% during mid-day trading on Wednesday . The stock traded as high as $26.60 and last traded at $26.60. 8,689,609 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 12,227,551 shares. The stock had previously closed at $25.59.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company raised their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. The Goldman Sachs Group lifted their price target 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. KeyCorp increased their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. 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 report on Wednesday, November 13th. Finally, Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Stock Performance

The company has a market cap of $14.22 billion, a PE ratio of -76.86 and a beta of 1.96. The stock’s 50-day simple moving average is $19.39 and its 200 day simple moving average is $10.88. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Buying and Selling at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the transaction, the general counsel now directly owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake 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 acquiring an additional 1,709 shares in the last quarter. Wellington Shields & Co. LLC lifted its stake in Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank boosted its holdings in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the period. Lakeridge Wealth Management LLC increased its stake in Rocket Lab USA by 30.0% during the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Rocket Lab USA by 28.7% during the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock worth $140,000 after purchasing an additional 3,220 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.