Rocket Lab USA (NASDAQ:RKLB) Trading Up 3.9% - Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price shot up 3.9% on Wednesday . The company traded as high as $26.60 and last traded at $26.60. 8,689,609 shares traded hands during trading, a decline of 29% from the average session volume of 12,227,551 shares. The stock had previously closed at $25.59.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RKLB. KeyCorp increased their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Citigroup increased their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Cantor Fitzgerald boosted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their price objective 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. Finally, Wells Fargo & Company boosted 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. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and an average target price of $17.44.

Rocket Lab USA Price Performance

The company has a market cap of $13.30 billion, a P/E ratio of -71.89 and a beta of 1.96. The company's 50-day moving average price is $18.73 and its two-hundred day moving average price is $10.65. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the firm's stock in a transaction 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 directly owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now owns 1,464,032 shares of the company's stock, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,114,530 shares of company stock worth $38,168,400. Corporate insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. increased its position in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock worth $28,006,000 after buying an additional 532,207 shares during the period. American Century Companies Inc. lifted its stake in Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer's stock valued at $13,713,000 after buying an additional 284,360 shares during the last quarter. Ieq Capital LLC bought a new stake in Rocket Lab USA in the second quarter valued at $5,469,000. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA during the third quarter valued at $8,930,000. Institutional investors own 71.78% of the company's stock.

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.