Rocket Lab USA (NASDAQ:RKLB) Reaches New 1-Year High – Still a Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $27.20 and last traded at $25.67, with a volume of 26547281 shares changing hands. The stock had previously closed at $25.44.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RKLB. Cantor Fitzgerald increased their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Stifel Nicolaus upped 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. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company upped their price objective on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Stock Up 0.9 %

The stock’s fifty day simple moving average is $12.89 and its 200-day simple moving average is $7.93. The stock has a market cap of $12.83 billion, a P/E ratio of -69.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the firm’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 transaction of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the transaction, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,064,530 shares of company stock worth $37,018,400. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of large investors have recently added to or reduced their stakes in RKLB. Vanguard Group Inc. boosted its holdings in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares in the last quarter. Ieq Capital LLC bought a new stake in Rocket Lab USA during the second quarter worth approximately $5,469,000. Mizuho Markets Americas LLC bought a new stake in Rocket Lab USA during the third quarter worth approximately $8,930,000. Geode Capital Management LLC boosted its stake 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 worth $80,317,000 after purchasing an additional 898,223 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the period. 71.78% of the stock is currently owned by 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.