Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price traded down 2.6% during mid-day trading on Monday . The stock traded as low as $23.94 and last traded at $24.00. 14,031,539 shares traded hands during trading, a decline of 6% from the average session volume of 14,879,312 shares. The stock had previously closed at $24.64.
Analysts Set New Price Targets
A number of brokerages have weighed in on RKLB. 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 note on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 11th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Thursday, December 19th. KeyCorp increased their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Five equities 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.06.
Read Our Latest Stock Report on Rocket Lab USA
Rocket Lab USA Trading Down 6.7 %
The firm has a market capitalization of $14.59 billion, a PE ratio of -78.69 and a beta of 1.98. The firm's 50-day simple moving average is $24.56 and its 200-day simple moving average is $13.71. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.
Insider Buying and Selling
In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the business's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares of the company's stock, valued at approximately $12,297,525. This trade represents a 8.55 % 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 worth $38,168,400 in the last ninety days. 13.70% of the stock is owned by insiders.
Institutional Investors Weigh In On Rocket Lab USA
Several institutional investors and hedge funds have recently bought and sold shares of RKLB. Amalgamated Bank lifted its position in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock worth $58,000 after purchasing an additional 2,538 shares during the period. DRW Securities LLC purchased a new stake in Rocket Lab USA in the second quarter worth about $125,000. Xponance Inc. boosted its position in Rocket Lab USA by 29.1% during the 2nd quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer's stock valued at $106,000 after acquiring an additional 4,997 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Rocket Lab USA by 21.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer's stock worth $985,000 after acquiring an additional 35,849 shares during the period. Finally, Scientech Research LLC raised its position in shares of Rocket Lab USA by 135.4% in the 2nd quarter. Scientech Research LLC now owns 182,520 shares of the rocket manufacturer's stock worth $876,000 after acquiring an additional 104,980 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.
About Rocket Lab USA
(
Get Free Report)
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.
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