Rocket Lab (NASDAQ:RKLB) Stock Price Up 2% – Time to Buy?

Rocket Lab Corporation (NASDAQ:RKLB)’s share price was up 2% on Monday . The stock traded as high as $72.13 and last traded at $71.48. Approximately 18,123,034 shares traded hands during trading, a decline of 16% from the average daily volume of 21,606,014 shares. The stock had previously closed at $70.11.

Analyst Ratings Changes

Several equities research analysts have commented on RKLB shares. Morgan Stanley raised shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $67.00 to $105.00 in a research note on Friday, January 16th. Roth Mkm reissued a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research report on Tuesday, November 11th. KeyCorp cut shares of Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. Citizens Jmp reiterated a “market perform” rating on shares of Rocket Lab in a report on Friday, February 27th. Finally, Cantor Fitzgerald increased their price target on Rocket Lab from $72.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. One equities 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab currently has an average rating of “Moderate Buy” and a consensus price target of $75.92.

Rocket Lab Stock Up 4.4%

The firm’s 50-day simple moving average is $77.60 and its 200 day simple moving average is $62.62. 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 $38.44 billion, a P/E ratio of -194.48 and a beta of 2.20.

Insider Activity at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the sale, the chief financial officer directly owned 1,296,824 shares of the company’s stock, valued at approximately $90,245,982.16. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Peter Beck sold 18,857 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $1,312,258.63. Following the completion of the sale, the chief executive officer owned 884,085 shares of the company’s stock, valued at approximately $61,523,475.15. This represents a 2.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 4,362,428 shares of company stock worth $281,055,579. Insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab

Institutional investors and hedge funds have recently modified their holdings of the company. Aventura Private Wealth LLC bought a new position in Rocket Lab during the fourth quarter worth about $25,000. Mcguire Capital Advisors Inc. bought a new stake in Rocket Lab in the fourth quarter valued at approximately $27,000. Zions Bancorporation National Association UT bought a new stake in Rocket Lab in the fourth quarter valued at approximately $28,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Rocket Lab in the fourth quarter valued at approximately $29,000. Finally, Reflection Asset Management bought a new position in shares of Rocket Lab during the 4th quarter worth approximately $30,000. 71.78% of the stock is owned by institutional investors.

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.