Rocket Lab USA (NASDAQ:RKLB) Trading Up 0.5% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price was up 0.5% during trading on Monday . The company traded as high as $24.68 and last traded at $24.53. Approximately 5,656,696 shares changed hands during trading, a decline of 53% from the average daily volume of 12,054,020 shares. The stock had previously closed at $24.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RKLB shares. Bank of America raised their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JMP Securities began coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Wells Fargo & Company boosted their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Cantor Fitzgerald boosted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Citigroup boosted their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Price Performance

The firm has a market cap of $12.95 billion, a P/E ratio of -66.30 and a beta of 1.96. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average of $16.57 and a two-hundred day moving average of $9.63.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in shares of 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 valued at $80,317,000 after purchasing an additional 898,223 shares during the period. ARK Investment Management LLC raised its stake in Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after buying an additional 391,778 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Rocket Lab USA by 22.7% during 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 buying an additional 532,207 shares during the period. American Century Companies Inc. raised its stake in Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after buying an additional 284,360 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after buying an additional 432,501 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

About Rocket Lab USA

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.