Rocket Lab (NASDAQ:RKLB) Reaches New 52-Week High – Should You Buy?

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $76.58 and last traded at $76.4810, with a volume of 8495413 shares trading hands. The stock had previously closed at $70.52.

Rocket Lab News Roundup

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

Wall Street Analyst Weigh In

RKLB has been the subject of a number of recent analyst reports. Robert W. Baird started coverage on shares of Rocket Lab in a research report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. 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 report on Wednesday, November 19th. Stifel Nicolaus set a $85.00 target price on Rocket Lab in a report on Monday. Finally, Morgan Stanley decreased their price target on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rocket Lab presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Get Our Latest Stock Analysis on Rocket Lab

Rocket Lab Stock Performance

The stock has a market cap of $40.89 billion, a price-to-earnings ratio of -201.98 and a beta of 2.20. The company’s 50-day simple moving average is $54.50 and its 200-day simple moving average is $47.33. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32.

Rocket Lab (NASDAQ:RKLBGet Free Report) last announced its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) EPS. Analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Arjun Kampani sold 28,615 shares of Rocket Lab stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $40.65, for a total value of $1,163,199.75. Following the transaction, the senior vice president owned 461,014 shares of the company’s stock, valued at approximately $18,740,219.10. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Adam C. Spice sold 46,994 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $40.86, for a total transaction of $1,920,174.84. Following the sale, the chief financial officer directly owned 1,995,373 shares of the company’s stock, valued at $81,530,940.78. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,697,171 shares of company stock worth $149,644,782 over the last three months. Company insiders own 11.90% of the company’s stock.

Institutional Trading of Rocket Lab

A number of hedge funds have recently modified their holdings of RKLB. Keel Point LLC boosted its position in shares of Rocket Lab by 0.4% in the third quarter. Keel Point LLC now owns 51,428 shares of the rocket manufacturer’s stock worth $2,464,000 after buying an additional 226 shares during the period. IFP Advisors Inc lifted its stake in Rocket Lab by 30.8% in the 3rd quarter. IFP Advisors Inc now owns 2,995 shares of the rocket manufacturer’s stock worth $143,000 after acquiring an additional 705 shares in the last quarter. Swiss Life Asset Management Ltd boosted its position in Rocket Lab by 480.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 58,426 shares of the rocket manufacturer’s stock worth $2,799,000 after acquiring an additional 48,369 shares during the period. CIBC Private Wealth Group LLC grew its stake in Rocket Lab by 28.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,948 shares of the rocket manufacturer’s stock valued at $381,000 after acquiring an additional 1,747 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Rocket Lab in the 3rd quarter valued at about $741,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Company Profile

(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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