Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares traded up 3.1% during trading on Friday . The company traded as high as $23.66 and last traded at $23.29. 4,753,165 shares were traded during trading, a decline of 60% from the average session volume of 12,021,705 shares. The stock had previously closed at $22.58.
Analyst Ratings Changes
A number of analysts recently issued reports on RKLB shares. Bank of America upped their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. JMP Securities initiated coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a "market perform" rating on the stock. Citigroup raised their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, November 18th. KeyCorp upped their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald raised 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Rocket Lab USA presently has an average rating of "Moderate Buy" and an average target price of $17.44.
Check Out Our Latest Stock Analysis on RKLB
Rocket Lab USA Stock Performance
The stock's 50 day moving average price is $16.28 and its 200 day moving average price is $9.41. 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 firm has a market cap of $12.10 billion, a PE ratio of -65.38 and a beta of 1.96.
Insider Transactions at Rocket Lab USA
In related news, Director Matthew Ocko sold 2,000,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director now directly owns 2,351,135 shares of the company's stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction 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 sale, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. This trade represents a 4.48 % 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 quarter. Company insiders own 13.70% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its holdings in shares of Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock valued at $6,727,000 after buying an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock valued at $28,006,000 after acquiring an additional 532,207 shares during the last quarter. FORA Capital LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter worth $449,000. Mizuho Markets Americas LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth $8,930,000. Finally, International Assets Investment Management LLC raised its position in shares of Rocket Lab USA by 934.5% during the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer's stock worth $10,090,000 after purchasing an additional 88,686 shares during the period. 71.78% of the stock is currently owned by institutional investors.
Rocket Lab USA Company Profile
(
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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