Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report)’s stock price traded up 8.5% during mid-day trading on Friday . The company traded as high as $28.05 and last traded at $27.84. 11,754,099 shares were traded during mid-day trading, an increase of 1% from the average session volume of 11,604,330 shares. The stock had previously closed at $25.67.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. KeyCorp lifted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Citigroup lifted 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 analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.
Rocket Lab USA Price Performance
The stock has a 50-day moving average price of $13.66 and a 200 day moving average price of $8.22. 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 $13.64 billion, a price-to-earnings ratio of -73.73 and a beta of 1.29.
Insider Transactions at Rocket Lab USA
In related news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. The trade was a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the business’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 completion of the transaction, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,064,530 shares of company stock worth $37,018,400. Corporate insiders own 13.70% of the company’s stock.
Hedge Funds Weigh In On Rocket Lab USA
Institutional investors have recently added to or reduced their stakes in the stock. FORA Capital LLC acquired a new position in Rocket Lab USA in the 3rd quarter valued at about $449,000. Vanguard Group Inc. increased its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the period. Mizuho Markets Americas LLC acquired a new position in Rocket Lab USA during the 3rd quarter worth approximately $8,930,000. International Assets Investment Management LLC increased its position in Rocket Lab USA by 934.5% during the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after purchasing an additional 88,686 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in Rocket Lab USA by 40.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock worth $440,000 after purchasing an additional 26,605 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.
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.