Rocket Lab (NASDAQ:RKLB) Sets New 1-Year High – Should You Buy?

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $81.98 and last traded at $81.8460, with a volume of 21073876 shares changing hands. The stock had previously closed at $78.14.

Trending Headlines about Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

Analyst Ratings Changes

RKLB has been the subject of a number of research reports. Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Robert W. Baird began coverage on shares of Rocket Lab in a report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 target price on the stock. Roth Capital reiterated a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Wall Street Zen raised shares of Rocket Lab from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, KeyCorp upped their target price on shares of Rocket Lab from $50.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rocket Lab has a consensus rating of “Moderate Buy” and an average price target of $61.25.

Get Our Latest Report on RKLB

Rocket Lab Trading Up 9.5%

The firm has a market capitalization of $45.71 billion, a price-to-earnings ratio of -224.43 and a beta of 2.16. The business’s 50 day moving average price is $56.30 and its 200-day moving average price is $50.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83.

Rocket Lab (NASDAQ:RKLBGet Free Report) last announced its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $155.08 million for the quarter, compared to analyst estimates of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The firm’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. Equities analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, Director Nina Armagno sold 27,314 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $68.21, for a total transaction of $1,863,087.94. Following the transaction, the director directly owned 108,940 shares of the company’s stock, valued at $7,430,797.40. This represents a 20.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Frank Klein sold 41,782 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $40.65, for a total transaction of $1,698,438.30. Following the completion of the transaction, the insider owned 1,274,223 shares of the company’s stock, valued at $51,797,164.95. This represents a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,731,985 shares of company stock valued at $152,026,345 over the last three months. 11.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC increased its holdings in Rocket Lab by 2.1% in the third quarter. Capital Investment Advisory Services LLC now owns 10,432 shares of the rocket manufacturer’s stock valued at $500,000 after buying an additional 212 shares in the last quarter. Keel Point LLC grew its holdings in shares of Rocket Lab by 0.4% in the 3rd quarter. Keel Point LLC now owns 51,428 shares of the rocket manufacturer’s stock worth $2,464,000 after acquiring an additional 226 shares during the period. Truist Financial Corp increased its stake in Rocket Lab by 1.9% in the 2nd quarter. Truist Financial Corp now owns 12,352 shares of the rocket manufacturer’s stock valued at $442,000 after purchasing an additional 234 shares in the last quarter. ORG Partners LLC raised its holdings in Rocket Lab by 22.1% during the third quarter. ORG Partners LLC now owns 1,337 shares of the rocket manufacturer’s stock worth $64,000 after purchasing an additional 242 shares during the last quarter. Finally, Parvin Asset Management LLC boosted its position in Rocket Lab by 7.2% during the second quarter. Parvin Asset Management LLC now owns 3,725 shares of the rocket manufacturer’s stock worth $133,000 after purchasing an additional 250 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Lab

(Get Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

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