Rocket Lab (NASDAQ:RKLB) Stock Price Up 9.6% – Should You Buy?

Rocket Lab Corporation (NASDAQ:RKLB) shares traded up 9.6% during trading on Thursday . The company traded as high as $58.83 and last traded at $59.1570. 10,364,681 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 20,741,453 shares. The stock had previously closed at $53.96.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RKLB shares. Baird R W upgraded shares of Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Morgan Stanley dropped their target price on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Roth Capital reiterated a “buy” rating and issued a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Finally, Bank of America increased their price objective on shares of Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.17.

Rocket Lab Price Performance

The stock has a market capitalization of $31.72 billion, a P/E ratio of -156.49 and a beta of 2.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. The firm has a fifty day moving average price of $54.51 and a two-hundred day moving average price of $46.65.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results 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. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company had revenue of $155.08 million for the quarter, compared to the consensus estimate of $152.45 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Rocket Lab’s revenue was up 48.0% on a year-over-year basis. As a group, analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab

In other news, insider Frank Klein sold 4,736 shares of Rocket Lab stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $42.08, for a total transaction of $199,290.88. Following the transaction, the insider owned 1,269,487 shares in the company, valued at $53,420,012.96. This trade represents a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Peter Beck sold 939,746 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $54.73, for a total value of $51,432,298.58. The SEC filing for this sale provides additional information. Insiders sold 3,566,759 shares of company stock valued at $191,361,452 in the last quarter. Insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in Rocket Lab in the 3rd quarter worth approximately $25,000. Hara Capital LLC bought a new position in shares of Rocket Lab in the third quarter worth approximately $25,000. UMB Bank n.a. increased its stake in shares of Rocket Lab by 352.5% in the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after purchasing an additional 423 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Rocket Lab during the 3rd quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 416 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

About Rocket Lab

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.