Rocket Lab USA (NASDAQ:RKLB) Shares Up 2% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) traded up 2% during mid-day trading on Friday . The company traded as high as $23.81 and last traded at $22.85. 10,833,799 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 11,207,274 shares. The stock had previously closed at $22.41.

Analyst Ratings Changes

Several equities analysts recently commented on RKLB shares. Stifel Nicolaus boosted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities started coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Wells Fargo & Company upped their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. KeyCorp lifted 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. Finally, The Goldman Sachs Group upped 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 report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Rocket Lab USA Price Performance

The stock has a market cap of $11.63 billion, a price-to-earnings ratio of -62.86 and a beta of 1.29. The company has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $7.47. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Insider Buying and Selling

In other news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its position in Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Rocket Lab USA in the 2nd quarter worth about $46,000. Baxter Bros Inc. bought a new stake in Rocket Lab USA in the 2nd quarter valued at about $48,000. Amalgamated Bank boosted its stake in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Rocket Lab USA in the 2nd quarter worth about $67,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.