Rocket Lab USA (NASDAQ:RKLB) Trading 0.5% Higher - Here's What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares traded up 0.5% on Thursday . The stock traded as high as $24.70 and last traded at $23.04. 7,125,783 shares changed hands during trading, a decline of 41% from the average session volume of 12,139,553 shares. The stock had previously closed at $22.92.

Analyst Upgrades and Downgrades

RKLB has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a "buy" rating in a report on Monday, November 18th. Wells Fargo & Company upped their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 11th. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Cantor Fitzgerald increased their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Finally, KeyCorp boosted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Five 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, Rocket Lab USA presently has an average rating of "Moderate Buy" and a consensus target price of $17.44.

Rocket Lab USA Trading Up 1.3 %

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average price of $17.50 and a 200 day moving average price of $10.02. The stock has a market capitalization of $11.61 billion, a PE ratio of -62.76 and a beta of 1.96.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the sale, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the business's stock in a transaction that occurred 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 $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Corporate insiders own 13.70% of the company's stock.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of RKLB. Allworth Financial LP increased its position in shares of 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 valued at $92,000 after purchasing an additional 8,992 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Rocket Lab USA in the second quarter worth about $46,000. Smith Anglin Financial LLC bought a new position in shares of Rocket Lab USA during the 3rd quarter valued at approximately $104,000. Franklin Resources Inc. purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $107,000. Finally, Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Rocket Lab USA in the 3rd quarter worth approximately $107,000. 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.