Rocket Lab (NASDAQ:RKLB) Shares Up 4.2% – What’s Next?

Rocket Lab Corporation (NASDAQ:RKLB)’s share price shot up 4.2% during mid-day trading on Monday . The company traded as high as $72.38 and last traded at $71.31. 16,879,604 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 21,225,873 shares. The stock had previously closed at $68.41.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RKLB shares. Stifel Nicolaus boosted their price objective on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Zacks Research cut Rocket Lab from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. TD Cowen reiterated a “buy” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Finally, Morgan Stanley upgraded Rocket Lab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $67.00 to $105.00 in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.92.

Rocket Lab Stock Performance

The company’s 50-day moving average price is $77.46 and its 200 day moving average price is $63.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. The stock has a market capitalization of $38.09 billion, a PE ratio of -192.72 and a beta of 2.20.

Insider Buying and Selling

In other Rocket Lab news, CFO Adam C. Spice sold 1,365,665 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the transaction, the chief financial officer owned 1,359,568 shares in the company, valued at approximately $102,647,384. This represents a 50.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Arjun Kampani sold 28,761 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $2,001,477.99. Following the completion of the transaction, the senior vice president directly owned 421,699 shares of the company’s stock, valued at $29,346,033.41. This represents a 6.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,787,174 shares of company stock valued at $190,412,782 over the last quarter. 11.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocket Lab

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Rocket Lab by 114.0% during the first quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after acquiring an additional 92,849 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Rocket Lab by 1,812.1% in the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after purchasing an additional 34,882 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Rocket Lab by 53.8% in the 1st quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $282,000 after purchasing an additional 5,507 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Rocket Lab by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after buying an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth increased its position in Rocket Lab by 1.0% during the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after buying an additional 681 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Company Profile

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.