Rocket Lab USA (NASDAQ:RKLB) Shares Up 8.5% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares were up 8.5% during mid-day trading on Friday . The company traded as high as $28.05 and last traded at $27.84. Approximately 11,754,099 shares were traded during trading, an increase of 1% from the average daily volume of 11,604,330 shares. The stock had previously closed at $25.67.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RKLB shares. Wells Fargo & Company upped their price target on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Bank of America lifted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JMP Securities initiated coverage on Rocket Lab USA in a research note 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 report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Rocket Lab USA Trading Up 6.3 %

The company has a 50-day moving average price of $13.66 and a 200 day moving average price of $8.24. The stock has a market capitalization of $13.64 billion, a P/E ratio of -73.73 and a beta of 1.29. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Activity

In other news, insider Frank Klein sold 35,968 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the sale, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the business’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 transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade 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 have sold 2,064,530 shares of company stock worth $37,018,400. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares during the period. ARK Investment Management LLC raised its stake in Rocket Lab USA by 6.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after acquiring an additional 391,778 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares during the period. Finally, American Century Companies Inc. grew its stake in Rocket Lab USA by 11.1% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.