Rocket Lab USA (NASDAQ:RKLB) Trading 0.9% Higher – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded up 0.9% during mid-day trading on Thursday . The company traded as high as $27.20 and last traded at $25.67. 26,547,281 shares were traded during trading, an increase of 129% from the average session volume of 11,610,826 shares. The stock had previously closed at $25.44.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RKLB. Citigroup upped their price target on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group raised their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note 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 data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Up 0.9 %

The firm has a market capitalization of $12.83 billion, a P/E ratio of -69.38 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’s 50-day moving average is $12.89 and its 200 day moving average is $7.93.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,064,530 shares of company stock valued at $37,018,400 in the last 90 days. 13.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its position in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after acquiring an additional 4,032 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA in the second quarter valued at $46,000. Baxter Bros Inc. bought a new position in shares of Rocket Lab USA in the second quarter valued at $48,000. Amalgamated Bank increased its holdings in Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Rocket Lab USA during the second quarter worth $67,000. Institutional investors and hedge funds 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.