Rocket Lab USA (NASDAQ:RKLB) Trading 3.7% Higher – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 3.7% on Monday . The stock traded as high as $25.58 and last traded at $24.11. 21,203,754 shares changed hands during mid-day trading, an increase of 87% from the average session volume of 11,321,251 shares. The stock had previously closed at $23.26.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RKLB shares. KeyCorp increased their target price on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. 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 report on Thursday, November 14th. Wells Fargo & Company upped their price target on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their price objective 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. Finally, Citigroup upped their target price on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Stock Up 0.9 %

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 company has a market capitalization of $12.83 billion, a P/E ratio of -67.54 and a beta of 1.29. The stock has a 50 day moving average price of $12.52 and a 200 day moving average price of $7.81.

Insider Activity

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the sale, the general counsel now owns 608,996 shares in the company, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,064,530 shares of company stock valued at $37,018,400 over the last quarter. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently modified their holdings of RKLB. Vanguard Group Inc. boosted its position in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after acquiring an additional 2,448,789 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at about $8,930,000. International Assets Investment Management LLC grew its stake in Rocket Lab USA by 934.5% during the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after purchasing an additional 88,686 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in Rocket Lab USA by 40.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock worth $440,000 after purchasing an additional 26,605 shares during the period. Finally, Venture Visionary Partners LLC bought a new stake in Rocket Lab USA in the third quarter worth approximately $886,000. 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.