Rocket Lab USA (NASDAQ:RKLB) Trading 0.4% Higher – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price rose 0.4% during mid-day trading on Friday . The stock traded as high as $33.34 and last traded at $31.70. Approximately 13,036,962 shares were traded during trading, a decline of 37% from the average daily volume of 20,626,447 shares. The stock had previously closed at $31.57.

Analyst Ratings Changes

A number of equities research analysts recently commented on RKLB shares. Citigroup increased their price target on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. KeyCorp raised their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Cantor Fitzgerald upped their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus upped their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Rocket Lab USA Stock Down 3.8 %

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a 50-day simple moving average of $25.29 and a 200-day simple moving average of $14.12. The firm has a market capitalization of $15.18 billion, a PE ratio of -82.05 and a beta of 1.98.

Insider Activity at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 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 value of $689,772.30. Following the sale, the general counsel now owns 608,996 shares in the company, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in RKLB. Citigroup Inc. boosted its stake in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after purchasing an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Lab USA by 22.7% in 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 acquiring an additional 532,207 shares during the period. Geode Capital Management LLC grew its stake 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 acquiring an additional 898,223 shares in the last quarter. FORA Capital LLC bought a new stake in Rocket Lab USA during the 3rd quarter worth approximately $449,000. Finally, National Bank of Canada FI increased its holdings in Rocket Lab USA by 149.2% during the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after acquiring an additional 30,178 shares during the period. 71.78% of the stock is currently owned by 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.