Rocket Lab (NASDAQ:RKLB) Stock Price Up 5.1% – Time to Buy?

Rocket Lab Corporation (NASDAQ:RKLB)’s stock price shot up 5.1% during mid-day trading on Monday . The company traded as high as $52.37 and last traded at $51.56. 21,530,641 shares were traded during trading, an increase of 5% from the average session volume of 20,552,219 shares. The stock had previously closed at $49.06.

Analyst Upgrades and Downgrades

RKLB has been the topic of several research reports. Morgan Stanley decreased their target price on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a report on Wednesday, November 12th. Wall Street Zen upgraded Rocket Lab from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 15th. Needham & Company LLC reissued a “buy” rating and set a $63.00 target price on shares of Rocket Lab in a report on Tuesday, November 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rocket Lab currently has a consensus rating of “Moderate Buy” and an average target price of $58.17.

Rocket Lab Price Performance

The business’s 50 day simple moving average is $54.59 and its 200-day simple moving average is $45.58. The stock has a market capitalization of $30.72 billion, a price-to-earnings ratio of -151.37 and a beta of 2.20. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The firm’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) EPS. On average, research analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Insider Transactions at Rocket Lab

In other Rocket Lab news, Director Merline Saintil sold 10,000 shares of Rocket Lab stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the transaction, the director owned 413,529 shares in the company, valued at $19,849,392. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Arjun Kampani sold 10,554 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $42.08, for a total value of $444,112.32. Following the transaction, the senior vice president directly owned 450,460 shares of the company’s stock, valued at approximately $18,955,356.80. The trade was a 2.29% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 5,583,532 shares of company stock worth $274,781,358. 11.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab

A number of hedge funds have recently made changes to their positions in RKLB. Wilmington Savings Fund Society FSB bought a new position in Rocket Lab in the 3rd quarter valued at approximately $25,000. Hara Capital LLC bought a new stake in shares of Rocket Lab during the third quarter worth $25,000. UMB Bank n.a. increased its holdings in shares of Rocket Lab by 352.5% during the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after buying an additional 423 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Rocket Lab in the 3rd quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Rocket Lab by 109.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 416 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab 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.