Rocket Lab USA (NASDAQ:RKLB) Shares Up 4.1% – What’s Next?

by · The Cerbat Gem

Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report)’s stock price was up 4.1% during trading on Thursday . The company traded as high as $27.96 and last traded at $27.69. Approximately 7,699,242 shares were traded during trading, a decline of 37% from the average daily volume of 12,205,370 shares. The stock had previously closed at $26.60.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group raised their price target 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, Wells Fargo & Company lifted their price target on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Get Our Latest Research Report on Rocket Lab USA

Rocket Lab USA Price Performance

The company has a fifty day simple moving average of $19.04 and a 200 day simple moving average of $10.76. 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 stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of -76.46 and a beta of 1.96.

Insider Activity

In other news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 directly owns 534,675 shares in the company, valued at $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab USA

Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its holdings in Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after purchasing an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares during the last quarter. FORA Capital LLC purchased a new stake in Rocket Lab USA during the third quarter valued at about $449,000. National Bank of Canada FI increased its stake in shares of Rocket Lab USA by 149.2% in the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after purchasing an additional 30,178 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

(Get Free Report)

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.

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