Rocket Lab USA (NASDAQ:RKLB) Trading 3.8% Higher – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was up 3.8% during trading on Monday . The stock traded as high as $30.26 and last traded at $29.82. Approximately 9,844,428 shares were traded during trading, a decline of 32% from the average daily volume of 14,411,775 shares. The stock had previously closed at $28.74.

Analysts Set New Price Targets

Several analysts have recently weighed in on RKLB shares. Stifel Nicolaus upped their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group boosted their target price 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. Cantor Fitzgerald upped 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 note on Thursday, November 14th. Bank of America upped their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Citigroup lifted their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.44.

Rocket Lab USA Price Performance

The stock has a market cap of $13.68 billion, a price-to-earnings ratio of -73.94 and a beta of 1.98. The stock has a fifty day simple moving average of $21.91 and a 200-day simple moving average of $12.22. 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 Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the 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 sale, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last three months. 13.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after buying an additional 8,992 shares during the period. Smith Anglin Financial LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $104,000. Franklin Resources Inc. acquired a new stake in shares of Rocket Lab USA in the third quarter valued at approximately $107,000. Schneider Downs Wealth Management Advisors LP bought a new position in Rocket Lab USA during the third quarter worth $107,000. Finally, Arete Wealth Advisors LLC acquired a new position in Rocket Lab USA in the 3rd quarter valued at about $106,000. Institutional investors and hedge funds 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.