Rocket Lab USA (NASDAQ:RKLB) Shares Up 4.1% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were up 4.1% during mid-day trading on Thursday . The stock traded as high as $27.96 and last traded at $27.69. Approximately 7,699,242 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 12,205,370 shares. The stock had previously closed at $26.60.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JMP Securities started coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. The Goldman Sachs Group increased their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Wells Fargo & Company boosted their price target on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald raised their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Five investment 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Stock Down 4.3 %

The company has a market capitalization of $13.61 billion, a P/E ratio of -73.57 and a beta of 1.96. The firm’s fifty day moving average is $19.72 and its 200-day moving average is $11.04. 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 related news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA 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 completion of the transaction, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RKLB. Victory Capital Management Inc. grew its stake in Rocket Lab USA by 4.4% during the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after purchasing an additional 1,709 shares during the period. Wellington Shields & Co. LLC boosted its holdings in shares of Rocket Lab USA by 3.8% during the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after buying an additional 2,503 shares in the last quarter. Amalgamated Bank grew its position in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares during the period. Lakeridge Wealth Management LLC increased its stake in shares of Rocket Lab USA by 30.0% in the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of 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 acquiring an additional 3,220 shares during the period. 71.78% of the stock is 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.