Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 3.8% - Here's Why

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price shot up 3.8% during mid-day trading on Monday . The company traded as high as $30.26 and last traded at $29.82. 9,844,428 shares were traded during trading, a decline of 32% from the average session volume of 14,411,775 shares. The stock had previously closed at $28.74.

Analyst Ratings Changes

Several research firms have recently commented on RKLB. KeyCorp raised their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price objective 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. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Finally, JMP Securities began coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a "market perform" rating for the company. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $17.44.

Rocket Lab USA Price Performance

The company has a market capitalization of $14.40 billion, a PE ratio of -77.84 and a beta of 1.98. 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 stock has a fifty day simple moving average of $21.22 and a 200-day simple moving average of $11.89.

Insider Activity at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now owns 534,675 shares in the company, valued at $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 available 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 shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares of the company's stock, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 over the last three months. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently modified their holdings of the business. Everence Capital Management Inc. acquired a new stake in Rocket Lab USA during the 4th quarter worth $286,000. Franklin Resources Inc. purchased a new stake in shares of Rocket Lab USA in the third quarter valued at about $107,000. Sanctuary Advisors LLC boosted its stake in shares of Rocket Lab USA by 34.0% during the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer's stock worth $207,000 after buying an additional 5,381 shares during the period. Arete Wealth Advisors LLC purchased a new position in shares of Rocket Lab USA during the third quarter worth about $106,000. Finally, Geode Capital Management LLC increased its position in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock valued at $80,317,000 after acquiring an additional 898,223 shares during the period. 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.