Rocket Lab USA (NASDAQ:RKLB) Shares Up 0.4% - Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price traded up 0.4% on Friday . The stock traded as high as $33.34 and last traded at $31.70. 13,036,962 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 20,626,447 shares. The stock had previously closed at $31.57.

Analyst Upgrades and Downgrades

Several research firms have commented on RKLB. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Citigroup boosted their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday. Bank of America raised their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. 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. Finally, TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a report on Thursday, December 19th. Five 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's stock. According to MarketBeat.com, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.06.

Rocket Lab USA Stock Performance

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 simple moving average of $25.06 and a 200 day simple moving average of $13.94. The company has a market cap of $15.18 billion, a price-to-earnings ratio of -82.05 and a beta of 1.98.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 35,968 shares of the company'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 $868,627.20. Following the completion of the sale, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA 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 transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company's stock.

Institutional Trading of Rocket Lab USA

Several hedge funds have recently made changes to their positions in RKLB. New Millennium Group LLC raised its holdings in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock worth $52,000 after purchasing an additional 1,050 shares in the last quarter. Amalgamated Bank increased its position in Rocket Lab USA by 26.7% during 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. Sanctuary Advisors LLC purchased a new position in shares of Rocket Lab USA during the 2nd quarter worth approximately $76,000. Allworth Financial LP lifted its holdings in shares of Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer's stock valued at $92,000 after buying an additional 8,992 shares during the period. Finally, Smith Anglin Financial LLC purchased a new stake in shares of Rocket Lab USA in the third quarter valued at approximately $104,000. Institutional investors and hedge funds own 71.78% of the company's stock.

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.