Rocket Lab USA (NASDAQ:RKLB) Stock Price Up 0.8% – Here’s Why

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded up 0.8% during mid-day trading on Thursday . The stock traded as high as $22.16 and last traded at $21.42. 6,527,898 shares were traded during mid-day trading, a decline of 67% from the average session volume of 19,496,262 shares. The stock had previously closed at $21.25.

Analyst Ratings Changes

Several research firms have recently commented on RKLB. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. KeyCorp raised their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group raised their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, Stifel Nicolaus upped their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Stock Down 6.7 %

The company has a market cap of $9.91 billion, a P/E ratio of -53.59 and a beta of 1.99. The firm’s 50 day moving average price is $26.86 and its two-hundred day moving average price is $17.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insiders Place Their Bets

In related news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the sale, the director now directly owns 132,294 shares in the company, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several large investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Rocket Lab USA in the fourth quarter worth $72,623,000. BNP Paribas Financial Markets bought a new position in shares of Rocket Lab USA during the fourth quarter valued at $56,977,000. Two Sigma Investments LP purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at $47,074,000. Finally, Renaissance Technologies LLC raised its position in Rocket Lab USA by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock worth $46,325,000 after buying an additional 1,721,300 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.