Rocket Lab (NASDAQ:RKLB) Trading Up 3.9% – Still a Buy?
by Michael Walen · The Markets DailyShares of Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) were up 3.9% during trading on Wednesday . The company traded as high as $93.10 and last traded at $90.04. Approximately 21,350,764 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 22,870,400 shares. The stock had previously closed at $86.64.
Rocket Lab News Roundup
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Completed second dedicated JAXA (Japan) launch, reinforcing government customer momentum and recurring-launch credibility. Read More.
- Positive Sentiment: Launched a next-generation High-Performance Star Tracker (ST-HP) aimed at higher-accuracy navigation in harsher radiation environments — expands space-systems product revenue potential and differentiates tech stack. Read More.
- Positive Sentiment: Industry supply tightness (Blue Origin New Glenn grounding) and Rocket Lab’s growing backlog (~$1.85B referenced in coverage) support pricing power and utilization upside for launches. Read More.
- Neutral Sentiment: Analyst and media pieces compare RKLB to peers and flag potential upside from a SpaceX IPO (increased interest in launch/satellite suppliers), but these are largely thematic and speculative. Read More.
- Neutral Sentiment: Coverage and comparisons (vs. Redwire, SpaceX valuation pieces) keep RKLB in investor focus ahead of upcoming earnings; these drive attention but not immediate fundamentals change. Read More.
- Negative Sentiment: Short interest jumped ~26.6% in April to ~31.5M shares (≈6.3% of shares short; ~1.4 days to cover). That rise increases potential volatility and suggests some investors are betting on near-term downside or profit-taking. (Short-interest data April 15)
Wall Street Analyst Weigh In
A number of research analysts recently commented on RKLB shares. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. The Goldman Sachs Group boosted their price target on Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Rocket Lab in a research note on Friday, March 13th. KeyCorp downgraded Rocket Lab from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 15th. Finally, Morgan Stanley raised Rocket Lab from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $67.00 to $105.00 in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and an average price target of $83.31.
View Our Latest Research Report on RKLB
Rocket Lab Stock Down 5.8%
The company has a market capitalization of $45.37 billion, a P/E ratio of -215.35 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. The firm’s fifty day moving average is $71.37 and its 200-day moving average is $67.61.
Insider Activity at Rocket Lab
In related news, insider Frank Klein sold 36,768 shares of Rocket Lab stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total transaction of $2,645,457.60. Following the sale, the insider directly owned 1,088,237 shares of the company’s stock, valued at approximately $78,298,652.15. The trade was a 3.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Peter Beck sold 18,857 shares of Rocket Lab stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $1,312,258.63. Following the sale, the chief executive officer directly owned 884,085 shares in the company, valued at $61,523,475.15. This trade represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 233,449 shares of company stock worth $16,487,233 in the last ninety days. Insiders own 11.90% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Rocket Lab by 13.6% in the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock valued at $6,123,000 after buying an additional 15,307 shares during the period. Cadent Capital Advisors LLC acquired a new position in shares of Rocket Lab in the third quarter valued at approximately $668,000. Firsthand Capital Management Inc. increased its stake in shares of Rocket Lab by 40.0% in the third quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock valued at $3,354,000 after buying an additional 20,000 shares during the period. Swiss National Bank increased its stake in shares of Rocket Lab by 67.7% in the third quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock valued at $59,582,000 after buying an additional 501,830 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Rocket Lab by 14.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer’s stock valued at $7,335,000 after buying an additional 19,304 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.
Rocket Lab Company Profile
Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.