Rocket Lab USA (NASDAQ:RKLB) Sees Strong Trading Volume – Still a Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) saw unusually-high trading volume on Tuesday . Approximately 5,549,306 shares changed hands during trading, a decline of 51% from the previous session’s volume of 11,374,099 shares.The stock last traded at $25.97 and had previously closed at $24.06.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RKLB shares. Bank of America boosted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Citigroup boosted their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. JMP Securities began coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company raised their target price on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company has a fifty day moving average price of $12.89 and a 200 day moving average price of $7.93. The company has a market cap of $12.83 billion, a PE ratio of -69.38 and a beta of 1.29.

Insiders Place Their Bets

In related news, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were 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 $14,707,253.40. The trade was a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,064,530 shares of company stock valued at $37,018,400 in the last quarter. 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 bought and sold shares of RKLB. Vanguard Group Inc. raised its stake in shares of Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares in the last quarter. Geode Capital Management LLC raised its position in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. ARK Investment Management LLC lifted its stake in Rocket Lab USA by 6.6% in the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after purchasing an additional 391,778 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Rocket Lab USA by 22.7% during 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 buying an additional 532,207 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Rocket Lab USA by 11.1% during the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

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.