Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 0.1% – Should You Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 0.1% during mid-day trading on Wednesday . The company traded as low as $11.35 and last traded at $11.46. 2,224,175 shares were traded during trading, a decline of 77% from the average session volume of 9,856,522 shares. The stock had previously closed at $11.47.

Analysts Set New Price Targets

RKLB has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a report on Monday, September 30th. KeyCorp raised their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley lowered shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, JMP Securities began coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.89.

Rocket Lab USA Price Performance

The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -31.68 and a beta of 1.32. The company has a fifty day simple moving average of $8.42 and a two-hundred day simple moving average of $5.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The firm’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) earnings per share. As a group, research analysts anticipate that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Insider Buying and Selling

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now owns 42,353 shares in the company, valued at $292,235.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares in the company, valued at $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares in the company, valued at $4,437,403.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,521 shares of company stock valued at $906,059. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors have recently bought and sold shares of RKLB. Vanguard Group Inc. boosted its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the period. ARK Investment Management LLC grew its stake in shares of Rocket Lab USA by 6.6% in the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after buying an additional 391,778 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after buying an additional 432,501 shares during the period. Finally, Nikko Asset Management Americas Inc. lifted its position in Rocket Lab USA by 15.7% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,917,000 after acquiring an additional 229,512 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Company Profile

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.