Rocket Lab USA (NASDAQ:RKLB) Trading Up 11% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price shot up 11% during mid-day trading on Friday . The company traded as high as $27.87 and last traded at $27.70. 8,909,080 shares were traded during trading, a decline of 15% from the average session volume of 10,456,441 shares. The stock had previously closed at $24.96.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America lifted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Citigroup boosted their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Stifel Nicolaus boosted their price objective 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. Five research 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 a consensus rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA Stock Up 10.5 %

The business’s 50 day moving average price is $20.87 and its 200 day moving average price is $11.62. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of -74.57 and a beta of 1.98. 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

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently bought and sold shares of RKLB. International Assets Investment Management LLC acquired a new stake in Rocket Lab USA during the 2nd quarter worth approximately $46,000. Amalgamated Bank increased its holdings in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Rocket Lab USA in the 2nd quarter valued at about $67,000. Sanctuary Advisors LLC bought a new position in shares of Rocket Lab USA during the second quarter valued at approximately $76,000. Finally, National Bank of Canada FI lifted its stake in Rocket Lab USA by 97.8% in the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 10,000 shares during the last quarter. 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.