Rocket Lab USA (NASDAQ:RKLB) Hits New 12-Month High – Time to Buy?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $28.80 and last traded at $28.44, with a volume of 19975090 shares changing hands. The stock had previously closed at $26.60.

Analyst Ratings Changes

A number of analysts recently weighed in on RKLB shares. Cantor Fitzgerald boosted their target price 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. Citigroup upped their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Wells Fargo & Company raised their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Finally, Bank of America increased their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Price Performance

The firm’s 50 day moving average is $19.72 and its 200 day moving average is $11.08. The firm has a market cap of $13.61 billion, a P/E ratio of -73.57 and a beta of 1.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 approximately $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction 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 transaction, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA in the 2nd quarter valued at about $46,000. Amalgamated Bank boosted its position in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA during the second quarter worth approximately $67,000. Sanctuary Advisors LLC purchased a new position in Rocket Lab USA during the 2nd quarter worth $76,000. Finally, National Bank of Canada FI raised its position in Rocket Lab USA by 97.8% during the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other 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.