Rocket Lab USA (NASDAQ:RKLB) Shares Up 0.5% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $24.70 and last traded at $23.04. 7,125,783 shares were traded during mid-day trading, a decline of 41% from the average session volume of 12,139,553 shares. The stock had previously closed at $22.92.

Analysts Set New Price Targets

A number of brokerages recently commented on RKLB. Stifel Nicolaus upped their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. 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 note on Wednesday, December 11th. Bank of America increased their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, KeyCorp lifted 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 note on Thursday, October 24th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA Trading Up 0.7 %

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $11.54 billion, a P/E ratio of -62.38 and a beta of 1.96. The firm’s 50-day simple moving average is $17.50 and its 200 day simple moving average is $10.02.

Insider Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the transaction, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock worth $38,168,400 in the last ninety days. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. purchased a new stake in Rocket Lab USA in the 3rd quarter worth approximately $107,000. Sanctuary Advisors LLC increased its stake in shares of Rocket Lab USA by 34.0% in the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after acquiring an additional 5,381 shares during the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Rocket Lab USA during the third quarter worth $106,000. Geode Capital Management LLC raised its holdings 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 acquiring an additional 898,223 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in 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 valued at $2,213,000 after purchasing an additional 41,551 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.