Rocket Lab USA (NASDAQ:RKLB) Trading 3.6% Higher – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB) rose 3.6% during mid-day trading on Tuesday . The company traded as high as $29.77 and last traded at $29.04. Approximately 10,338,607 shares changed hands during trading, a decline of 46% from the average daily volume of 19,286,555 shares. The stock had previously closed at $28.02.

Analyst Ratings Changes

Several brokerages have weighed in on RKLB. The Goldman Sachs Group increased their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Stifel Nicolaus raised their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald lifted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Wells Fargo & Company upped their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Bank of America lifted their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Stock Down 2.6 %

The stock has a market cap of $12.63 billion, a price-to-earnings ratio of -68.27 and a beta of 1.99. The business’s 50 day moving average is $27.05 and its 200-day moving average is $17.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Activity

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now 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 SEC, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,530 shares of company stock worth $2,944,700 over the last 90 days. 13.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RKLB. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $84,000. Sunbelt Securities Inc. boosted its stake in Rocket Lab USA by 911.9% during the fourth quarter. Sunbelt Securities Inc. now owns 5,717 shares of the rocket manufacturer’s stock worth $150,000 after buying an additional 5,152 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Rocket Lab USA by 30.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 682,790 shares of the rocket manufacturer’s stock valued at $17,391,000 after buying an additional 159,642 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Rocket Lab USA in the 4th quarter worth $22,331,000. Finally, Vident Advisory LLC raised its holdings in shares of Rocket Lab USA by 8.8% during the 4th quarter. Vident Advisory LLC now owns 203,125 shares of the rocket manufacturer’s stock worth $5,174,000 after acquiring an additional 16,396 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.