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

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

Wall Street Analysts Forecast Growth

RKLB has been the subject of several research analyst reports. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald upped their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. KeyCorp raised their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group upped their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Citigroup lifted their price target on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Rocket Lab USA Stock Up 3.8 %

The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of -62.86 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. The stock has a fifty day moving average of $11.82 and a 200-day moving average of $7.47.

Insiders Place Their Bets

In related news, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after acquiring an additional 1,709 shares in the last quarter. Wellington Shields & Co. LLC boosted its holdings in shares of Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after purchasing an additional 2,503 shares during the period. Amalgamated Bank increased its stake in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of Rocket Lab USA by 7.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after buying an additional 2,807 shares during the period. Finally, Lakeridge Wealth Management LLC grew its holdings in shares of Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.