Rocket Lab USA (NASDAQ:RKLB) Shares Up 3.6% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $29.77 and last traded at $29.04. 10,338,607 shares changed hands during trading, a decline of 46% from the average session volume of 19,286,555 shares. The stock had previously closed at $28.02.

Analyst Ratings Changes

A number of brokerages have issued reports on RKLB. Wells Fargo & Company raised their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Citigroup raised their target price on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus raised their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Stock Performance

The stock has a 50-day moving average price of $26.90 and a 200 day moving average price of $16.86. The company has a market cap of $13.87 billion, a price-to-earnings ratio of -74.97 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares in the company, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,530 shares of company stock valued at $2,944,700. 13.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Spectrum Wealth Counsel LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $25,000. Sandy Spring Bank acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC increased its position in shares of Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after purchasing an additional 1,750 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.