Rocket Lab USA (NASDAQ:RKLB) Shares Up 8.5% – Still a Buy?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) shot up 8.5% on Friday . The company traded as high as $28.05 and last traded at $27.84. 11,754,099 shares traded hands during trading, an increase of 1% from the average session volume of 11,604,330 shares. The stock had previously closed at $25.67.

Wall Street Analysts Forecast Growth

RKLB has been the topic of a number of recent analyst reports. KeyCorp raised their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. JMP Securities began coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. Citigroup lifted their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Stifel Nicolaus raised their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Bank of America boosted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Rocket Lab USA Stock Up 6.4 %

The stock has a market cap of $13.65 billion, a PE ratio of -75.24 and a beta of 1.29. The business has a 50 day moving average price of $13.26 and a 200 day moving average price of $8.06. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 35,968 shares of Rocket Lab USA 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the transaction, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,064,530 shares of company stock valued at $37,018,400 in the last 90 days. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in shares of 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 worth $44,000 after acquiring an additional 4,032 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Rocket Lab USA during the second quarter worth $46,000. Baxter Bros Inc. purchased a new stake in shares of Rocket Lab USA during the second quarter worth $48,000. Amalgamated Bank raised its position in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA in the second quarter worth about $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.