Rocket Lab USA (NASDAQ:RKLB) Trading 11% Higher – Time to Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 11% during trading on Friday . The company traded as high as $27.87 and last traded at $27.70. 8,909,080 shares changed hands during trading, a decline of 15% from the average session volume of 10,456,441 shares. The stock had previously closed at $24.96.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RKLB shares. Cantor Fitzgerald upped their target price 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. Bank of America lifted their price objective 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. The Goldman Sachs Group increased their price target on shares of 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 upped their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, KeyCorp increased their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Five equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Stock Up 10.5 %

The firm has a market capitalization of $13.79 billion, a P/E ratio of -74.57 and a beta of 1.98. The business has a 50 day moving average price of $20.87 and a 200 day moving average price of $11.62. 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 Transactions at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the transaction, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last 90 days. 13.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Geode Capital Management LLC grew its holdings in 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 valued at $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. American Century Companies Inc. boosted its position 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 period. Ieq Capital LLC purchased a new position in shares of Rocket Lab USA in the second quarter worth about $5,469,000. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Rocket Lab USA in the third quarter valued at approximately $8,930,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.