Rocket Lab USA (NASDAQ:RKLB) Shares Gap Up – Should You Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $23.26, but opened at $25.39. Rocket Lab USA shares last traded at $24.02, with a volume of 10,518,405 shares trading hands.

Wall Street Analyst Weigh In

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

Rocket Lab USA Price Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business has a 50 day moving average of $12.52 and a 200-day moving average of $7.81.

Insider Activity at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $8,930,000. International Assets Investment Management LLC boosted its holdings in shares of Rocket Lab USA by 934.5% in the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock valued at $10,090,000 after buying an additional 88,686 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Rocket Lab USA by 40.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after buying an additional 26,605 shares in the last quarter. Finally, Venture Visionary Partners LLC acquired a new position in Rocket Lab USA during the third quarter worth $886,000. 71.78% of the stock is owned by 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.