Rocket Lab USA (NASDAQ:RKLB) Shares Gap Up – Here’s Why

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $23.26, but opened at $25.39. Rocket Lab USA shares last traded at $24.02, with a volume of 10,518,405 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on RKLB shares. Bank of America boosted their target price on 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 objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. KeyCorp upped their price target 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. Finally, Wells Fargo & Company raised their price objective on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Rocket Lab USA Stock Up 5.7 %

The stock’s fifty day moving average price is $12.52 and its two-hundred day moving average price is $7.81. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Activity

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 transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, 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 hyperlink. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its position in Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares during the last quarter. International Assets Investment Management LLC bought a new position in Rocket Lab USA in the 2nd quarter valued at approximately $46,000. Baxter Bros Inc. bought a new position in Rocket Lab USA in the 2nd quarter valued at approximately $48,000. Amalgamated Bank boosted its position in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in Rocket Lab USA during the 2nd quarter worth approximately $67,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.