Rocket Lab USA (NASDAQ:RKLB) Trading 0.1% Higher – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares shot up 0.1% during mid-day trading on Monday . The company traded as high as $26.32 and last traded at $24.90. 6,563,619 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 12,205,298 shares. The stock had previously closed at $24.87.

Wall Street Analyst Weigh In

A number of brokerages have commented on RKLB. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. JMP Securities started coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. KeyCorp increased their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Trading Up 3.9 %

The stock has a market capitalization of $13.30 billion, a PE ratio of -71.89 and a beta of 1.96. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $18.39 and a 200-day moving average price of $10.49.

Insider Activity at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred 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 directly owns 534,675 shares of the company’s stock, valued at $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the company’s 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 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. Over the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Franklin Resources Inc. purchased a new position in shares of Rocket Lab USA in the third quarter worth about $107,000. Sanctuary Advisors LLC boosted its holdings in Rocket Lab USA by 34.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after buying an additional 5,381 shares during the period. Arete Wealth Advisors LLC purchased a new position in Rocket Lab USA in the 3rd quarter valued at approximately $106,000. Geode Capital Management LLC raised its holdings in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of 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 acquiring an additional 41,551 shares in the last quarter. 71.78% of the stock is currently 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.