Rocket Lab USA (NASDAQ:RKLB) Shares Up 0.5% – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) traded up 0.5% during mid-day trading on Thursday . The stock traded as high as $24.70 and last traded at $23.04. 7,125,783 shares changed hands during trading, a decline of 41% from the average session volume of 12,139,553 shares. The stock had previously closed at $22.92.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several research reports. Wells Fargo & Company increased their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Cantor Fitzgerald lifted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Bank of America increased their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. KeyCorp lifted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased 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 report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Stock Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock’s fifty day moving average is $17.50 and its two-hundred day moving average is $10.02. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of -62.38 and a beta of 1.96.

Insider Buying and Selling

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred 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 sale, the director now directly owns 534,675 shares in the company, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. grew its position in shares of Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after acquiring an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the period. FORA Capital LLC bought a new stake in Rocket Lab USA during the third quarter valued at $449,000. National Bank of Canada FI lifted its position in shares of Rocket Lab USA by 149.2% in the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after buying an additional 30,178 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Rocket Lab USA by 22.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock valued at $2,213,000 after buying an additional 41,551 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.