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

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $27.20 and last traded at $25.67, with a volume of 26547281 shares. The stock had previously closed at $25.44.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Bank of America raised their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald lifted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. Finally, KeyCorp lifted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Rocket Lab USA Stock Up 0.9 %

The firm has a market cap of $12.83 billion, a P/E ratio of -69.38 and a beta of 1.29. The business’s fifty day moving average price is $12.89 and its two-hundred day moving average price is $7.93. 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 Activity

In related news, 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 value 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank Klein sold 35,968 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 $868,627.20. Following the completion of the transaction, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RKLB. Victory Capital Management Inc. raised its position in shares of Rocket Lab USA by 4.4% during the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after buying an additional 1,709 shares during the last quarter. Wellington Shields & Co. LLC raised its position in shares of Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after buying an additional 2,503 shares during the last quarter. Amalgamated Bank raised its position in shares of Rocket Lab USA by 26.7% during the second 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 last quarter. 180 Wealth Advisors LLC raised its position in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after buying an additional 2,807 shares during the last quarter. Finally, Lakeridge Wealth Management LLC raised its position in shares of Rocket Lab USA by 30.0% during the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after buying an additional 3,000 shares during the last quarter. 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.