Rocket Lab USA (NASDAQ:RKLB) Trading 6.3% Higher – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were up 6.3% during mid-day trading on Wednesday . The company traded as high as $26.50 and last traded at $25.69. Approximately 6,932,218 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 16,558,580 shares. The stock had previously closed at $24.16.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RKLB. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. KeyCorp boosted their price objective 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. Cantor Fitzgerald upped their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Citigroup increased their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Bank of America raised their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.61.

Rocket Lab USA Stock Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock’s 50-day moving average price is $23.84 and its 200-day moving average price is $13.13. The company has a market cap of $12.00 billion, a P/E ratio of -64.86 and a beta of 1.98.

Insider Transactions at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the sale, the director now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction 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 directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Rocket Lab USA by 24.2% during the 2nd quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock worth $2,305,000 after acquiring an additional 93,447 shares during the period. American Century Companies Inc. lifted its stake in Rocket Lab USA by 11.1% during the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Rocket Lab USA in the 2nd quarter valued at $140,000. Amalgamated Bank boosted 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 purchasing an additional 2,538 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Rocket Lab USA in the 2nd quarter valued at $5,469,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.