Rocket Lab USA (NASDAQ:RKLB) Shares Up 6.3% – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price traded up 6.3% during mid-day trading on Wednesday . The company traded as high as $26.50 and last traded at $25.69. 6,932,218 shares were traded during mid-day trading, a decline of 58% from the average session volume of 16,558,580 shares. The stock had previously closed at $24.16.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. 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 increased their price target 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. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.61.

Rocket Lab USA Price Performance

The company has a market capitalization of $12.00 billion, a PE ratio of -64.86 and a beta of 1.98. The stock has a 50 day moving average price of $23.84 and a two-hundred day moving average price of $13.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the transaction, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock worth $38,168,400 over the last ninety days. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Avior Wealth Management LLC lifted its position in shares of Rocket Lab USA by 478.6% in the 4th quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock worth $177,000 after acquiring an additional 5,762 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Rocket Lab USA by 134.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer’s stock valued at $237,000 after acquiring an additional 5,325 shares during the last quarter. Allworth Financial LP boosted its stake in Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 8,992 shares in the last quarter. Smith Anglin Financial LLC acquired a new position in Rocket Lab USA during the 3rd quarter worth about $104,000. Finally, Franklin Resources Inc. bought a new stake in shares of Rocket Lab USA during the third quarter valued at approximately $107,000. Institutional investors 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.