Rocket Lab (NASDAQ:RKLB) Trading Up 3.8% - Here's Why

Key Points

• Rocket Lab (RKLB) shares rose 3.8% Monday, trading as high as $71.55 and last at $70.62 on volume of about 17.8 million shares (roughly 21% below the average).
• Analysts are mixed but generally favorable — MarketBeat shows a consensus rating of "Moderate Buy" with a consensus price target of $79.85 amid several recent upgrades and downgrades.
• Large institutions have been increasing stakes (Vanguard, Baillie Gifford, Capital World Investors, etc.), while insiders sold about 341,949 shares in the past 90 days (~$25.9M); institutions own 71.78% and insiders own 11.90%.

Shares of Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) traded up 3.8% on Monday . The company traded as high as $71.55 and last traded at $70.62. 17,824,988 shares were traded during trading, a decline of 21% from the average session volume of 22,442,068 shares. The stock had previously closed at $68.05.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Clear Str upgraded Rocket Lab to a "strong-buy" rating in a report on Wednesday, March 18th. Wall Street Zen upgraded Rocket Lab from a "sell" rating to a "hold" rating in a report on Sunday, February 8th. Needham & Company LLC lowered their price target on Rocket Lab from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Zacks Research downgraded Rocket Lab from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rocket Lab in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rocket Lab currently has an average rating of "Moderate Buy" and a consensus price target of $79.85.

Rocket Lab Stock Up 3.8%

The business has a 50 day simple moving average of $69.69 and a 200 day simple moving average of $65.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61. The stock has a market cap of $40.07 billion, a PE ratio of -190.86 and a beta of 2.20.

Insider Transactions at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 44,482 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $3,095,502.38. Following the transaction, the insider owned 1,125,005 shares in the company, valued at $78,289,097.95. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Arjun Kampani sold 28,761 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were 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 owned 421,699 shares in the company, valued at $29,346,033.41. This trade represents a 6.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 341,949 shares of company stock valued at $25,923,913. Corporate insiders own 11.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock valued at $3,308,033,000 after purchasing an additional 5,610,469 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Rocket Lab by 47.2% in the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer's stock worth $1,245,317,000 after buying an additional 5,725,536 shares during the last quarter. Capital World Investors lifted its position in shares of Rocket Lab by 12.0% in the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer's stock worth $1,130,172,000 after buying an additional 1,738,623 shares during the last quarter. State Street Corp lifted its position in shares of Rocket Lab by 1.0% in the fourth quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer's stock worth $873,411,000 after buying an additional 120,652 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Rocket Lab by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer's stock worth $626,605,000 after buying an additional 825,158 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

About Rocket Lab

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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