Rocket Lab USA (NASDAQ:RKLB) Shares Up 3.6% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) traded up 3.6% during trading on Tuesday . The stock traded as high as $29.77 and last traded at $29.04. 10,338,607 shares were traded during trading, a decline of 46% from the average session volume of 19,286,555 shares. The stock had previously closed at $28.02.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America lifted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup lifted their target price on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Price Performance

The company has a 50 day moving average of $26.90 and a 200-day moving average of $16.86. The firm has a market capitalization of $13.87 billion, a P/E ratio of -74.97 and a beta of 1.99. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Activity

In other news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, the director now owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 124,530 shares of company stock worth $2,944,700. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter worth $25,000. Sandy Spring Bank acquired a new position in shares of Rocket Lab USA during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the 4th quarter worth $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the 4th quarter worth $48,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after buying an additional 1,750 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.