Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 3.1% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares shot up 3.1% on Friday . The company traded as high as $23.66 and last traded at $23.29. 4,753,165 shares were traded during mid-day trading, a decline of 60% from the average session volume of 12,021,705 shares. The stock had previously closed at $22.58.

Analyst Ratings Changes

A number of research firms have issued reports on RKLB. Bank of America increased their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup upped their price target 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. Cantor Fitzgerald boosted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company upped their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Stock Up 7.2 %

The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -65.38 and a beta of 1.96. The firm has a 50 day simple moving average of $16.28 and a two-hundred day simple moving average of $9.41. 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 Buying and Selling

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the firm’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 transaction of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock valued at $38,168,400 in the last 90 days. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in RKLB. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 898,223 shares during the period. ARK Investment Management LLC lifted its position in shares of Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after acquiring an additional 391,778 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the period. American Century Companies Inc. raised its stake in Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after purchasing an additional 284,360 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Rocket Lab USA by 25.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after purchasing an additional 432,501 shares during the period. 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.