Rocket Lab USA (NASDAQ:RKLB) Trading 8.5% Higher – Here’s Why

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) rose 8.5% during mid-day trading on Tuesday . The company traded as high as $26.71 and last traded at $26.11. Approximately 19,317,485 shares were traded during trading, an increase of 69% from the average daily volume of 11,440,163 shares. The stock had previously closed at $24.06.

Analyst Ratings Changes

A number of research firms recently weighed in on RKLB. Stifel Nicolaus upped their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company upped their target price on Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Citigroup raised their price target on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 18th. KeyCorp boosted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Trading 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 firm has a market cap of $12.83 billion, a price-to-earnings ratio of -69.38 and a beta of 1.29. The business’s 50-day moving average price is $12.89 and its two-hundred day moving average price is $7.93.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Arjun Kampani sold 28,562 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 $689,772.30. Following the transaction, the general counsel now owns 608,996 shares in the company, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,064,530 shares of company stock worth $37,018,400. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares during the period. Ieq Capital LLC acquired a new position in shares of Rocket Lab USA in the 2nd quarter valued at about $5,469,000. Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth about $8,930,000. Geode Capital Management LLC increased its position in 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 worth $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Rocket Lab USA by 22.7% in 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. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.