Rocket Lab USA (NASDAQ:RKLB) Trading 0.2% Higher on Analyst Upgrade

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares rose 0.2% during trading on Monday after The Goldman Sachs Group raised their price target on the stock from $5.00 to $12.00. The Goldman Sachs Group currently has a neutral rating on the stock. Rocket Lab USA traded as high as $20.35 and last traded at $19.04. Approximately 11,937,438 shares changed hands during trading, an increase of 9% from the average daily volume of 10,949,754 shares. The stock had previously closed at $19.00.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus upped their price target 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. Wells Fargo & Company raised their price target 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. Citigroup boosted their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday. JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Insider Buying and Selling at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. This represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction on 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 approximately $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,130,521 shares of company stock valued at $36,366,059. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of 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 period. Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA in the third quarter valued at $8,930,000. International Assets Investment Management LLC boosted its position in shares of Rocket Lab USA by 934.5% in the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after buying an additional 88,686 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of 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 valued at $440,000 after buying an additional 26,605 shares in the last quarter. Finally, Venture Visionary Partners LLC acquired a new position in Rocket Lab USA during the third quarter valued at $886,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

The stock has a market capitalization of $10.18 billion, a PE ratio of -55.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a 50 day moving average of $10.64 and a 200-day moving average of $7.03.

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.