Rocket Lab USA (NASDAQ:RKLB) Trading 0.1% Higher – Here’s What Happened

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) rose 0.1% on Monday . The company traded as high as $26.32 and last traded at $24.90. Approximately 6,563,619 shares traded hands during trading, a decline of 46% from the average daily volume of 12,205,298 shares. The stock had previously closed at $24.87.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JMP Securities assumed coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. 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 report on Wednesday, November 13th. Cantor Fitzgerald upped their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday. Finally, KeyCorp boosted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Trading Up 2.4 %

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 stock has a market capitalization of $12.73 billion, a PE ratio of -68.84 and a beta of 1.96. The business’s 50-day moving average is $18.08 and its two-hundred day moving average is $10.34.

Insider Activity

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction on Thursday, November 14th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the sale, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last quarter. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently added to or reduced their stakes in RKLB. Allworth Financial LP increased its position in Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 8,992 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA in the second quarter valued at approximately $46,000. Smith Anglin Financial LLC acquired a new position in shares of Rocket Lab USA in the third quarter valued at approximately $104,000. Franklin Resources Inc. purchased a new position in shares of Rocket Lab USA during the third quarter valued at approximately $107,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new stake in Rocket Lab USA during the third quarter worth approximately $107,000. 71.78% of the stock is currently owned by hedge funds and other 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.