Rocket Lab USA (NASDAQ:RKLB) Trading Up 2.9% After Analyst Upgrade

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price was up 2.9% during trading on Friday after The Goldman Sachs Group raised their price target on the stock from $12.00 to $13.50. The Goldman Sachs Group currently has a neutral rating on the stock. Rocket Lab USA traded as high as $25.65 and last traded at $25.35. Approximately 5,940,573 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 15,856,883 shares. The stock had previously closed at $24.64.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company lifted their target price on shares of 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. Citigroup lifted their price target 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. KeyCorp increased 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. Stifel Nicolaus upped their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Bank of America raised their price objective 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. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.61.

Insider Activity

In other news, General Counsel Arjun Kampani sold 28,562 shares of the business's stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the company'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 transaction, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock worth $38,168,400 in the last quarter. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank grew its holdings in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock valued at $58,000 after buying an additional 2,538 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Rocket Lab USA during the 2nd quarter valued at about $76,000. Allworth Financial LP increased its holdings 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. Smith Anglin Financial LLC purchased a new stake in shares of Rocket Lab USA in the third quarter worth approximately $104,000. Finally, Xponance Inc. lifted its holdings in shares of Rocket Lab USA by 29.1% in the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer's stock valued at $106,000 after purchasing an additional 4,997 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Rocket Lab USA Stock Down 2.6 %

The stock has a fifty day moving average price of $24.05 and a two-hundred day moving average price of $13.26. The company has a market cap of $12.00 billion, a P/E ratio of -64.86 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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.