Rocket Lab USA (NASDAQ:RKLB) Hits New 12-Month High - Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $28.80 and last traded at $28.44, with a volume of 19975090 shares traded. The stock had previously closed at $26.60.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JMP Securities started coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a "market perform" rating on the stock. Bank of America upped their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their target price on Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Wells Fargo & Company boosted their price target 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, The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.44.

Rocket Lab USA Price Performance

The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company's 50-day moving average price is $19.72 and its two-hundred day moving average price is $11.04. The company has a market cap of $13.61 billion, a P/E ratio of -73.57 and a beta of 1.96.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated 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 sale, the director now owns 2,351,135 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the transaction, the general counsel now directly 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 2,114,530 shares of company stock worth $38,168,400 over the last quarter. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in Rocket Lab USA in the second quarter valued at $46,000. Amalgamated Bank lifted its position in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Rocket Lab USA in the 2nd quarter valued at about $67,000. Sanctuary Advisors LLC acquired a new position in Rocket Lab USA during the 2nd quarter valued at about $76,000. Finally, National Bank of Canada FI grew its position in Rocket Lab USA by 97.8% in the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer's stock worth $92,000 after purchasing an additional 10,000 shares during the last quarter. 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.