Rocket Lab USA (NASDAQ:RKLB) Reaches New 52-Week High – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.20 and last traded at $25.67, with a volume of 26547281 shares trading hands. The stock had previously closed at $25.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. JMP Securities started coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup increased their target price 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. Finally, Cantor Fitzgerald increased their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Five 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 stock has an average rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Trading Up 6.3 %

The stock’s fifty day moving average price is $13.66 and its 200 day moving average price is $8.22. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock has a market capitalization of $13.64 billion, a P/E ratio of -73.73 and a beta of 1.29.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction dated 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 in the company, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $868,627.20. Following the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,064,530 shares of company stock worth $37,018,400. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares in the last quarter. Geode Capital Management LLC grew 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 in the last quarter. ARK Investment Management LLC grew its holdings in Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after acquiring an additional 391,778 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after acquiring an additional 284,360 shares in the last quarter. 71.78% of the stock is currently owned by 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.