Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 4.7% – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price rose 4.7% on Friday . The company traded as high as $24.60 and last traded at $24.32. Approximately 6,803,157 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 12,151,901 shares. The stock had previously closed at $23.22.

Analyst Ratings Changes

RKLB has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JMP Securities initiated coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating on the stock. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday. Bank of America increased their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA Stock Up 7.1 %

The company has a market capitalization of $12.43 billion, a P/E ratio of -67.21 and a beta of 1.96. The firm’s 50 day moving average price is $18.08 and its two-hundred day moving average price is $10.30. 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 Transactions at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 28,562 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the transaction, the general counsel now directly owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’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 directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 in the last ninety days. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. bought a new position in Rocket Lab USA during the third quarter worth $107,000. Sanctuary Advisors LLC boosted its position in Rocket Lab USA by 34.0% during the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after purchasing an additional 5,381 shares during the period. Arete Wealth Advisors LLC bought a new position in Rocket Lab USA during the third quarter worth $106,000. Geode Capital Management LLC boosted its position in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in Rocket Lab USA by 22.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after purchasing an additional 41,551 shares during the period. 71.78% of the stock is owned by institutional investors.

About Rocket Lab USA

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.