Rocket Lab (NASDAQ:RKLB) Shares Up 9% – Should You Buy?

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report)’s stock price traded up 9% during mid-day trading on Friday . The company traded as high as $72.66 and last traded at $72.32. 19,852,808 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 25,476,072 shares. The stock had previously closed at $66.32.

Key Rocket Lab News

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RKLB. Robert W. Baird upgraded Rocket Lab to a “strong-buy” rating in a report on Thursday, October 16th. Stifel Nicolaus raised their price objective on shares of Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. KeyCorp lowered shares of Rocket Lab from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 15th. TD Cowen reissued a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Rocket Lab from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.92.

Check Out Our Latest Stock Report on RKLB

Rocket Lab Price Performance

The business has a 50-day moving average price of $73.03 and a two-hundred day moving average price of $58.46. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $38.63 billion, a price-to-earnings ratio of -190.32 and a beta of 2.16.

Rocket Lab (NASDAQ:RKLBGet Free Report) last announced its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The business had revenue of $155.08 million during the quarter, compared to analyst estimates of $152.45 million. During the same quarter in the previous year, the business posted ($0.10) EPS. Rocket Lab’s quarterly revenue was up 48.0% on a year-over-year basis. As a group, research analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 1,365,665 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $75.50, for a total value of $103,107,707.50. Following the transaction, the chief financial officer owned 1,359,568 shares of the company’s stock, valued at approximately $102,647,384. This trade represents a 50.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Merline Saintil sold 12,500 shares of Rocket Lab stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $90.00, for a total value of $1,125,000.00. Following the transaction, the director owned 280,029 shares of the company’s stock, valued at $25,202,610. This trade represents a 4.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,306,150 shares of company stock worth $271,865,732 over the last ninety days. Insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab

Several large investors have recently bought and sold shares of the stock. Sara Bay Financial boosted its holdings in Rocket Lab by 0.7% in the 4th quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock valued at $1,121,000 after purchasing an additional 117 shares during the period. ORG Partners LLC increased its holdings in shares of Rocket Lab by 9.1% in the fourth quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock worth $102,000 after purchasing an additional 121 shares during the period. Traynor Capital Management Inc. raised its position in shares of Rocket Lab by 1.9% in the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock worth $502,000 after buying an additional 133 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its stake in Rocket Lab by 1.0% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer’s stock valued at $939,000 after buying an additional 136 shares during the period. Finally, Quadcap Wealth Management LLC grew its position in Rocket Lab by 2.3% during the fourth quarter. Quadcap Wealth Management LLC now owns 6,246 shares of the rocket manufacturer’s stock worth $436,000 after buying an additional 140 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

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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