Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 2.9% – Time to Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were down 2.9% during trading on Friday . The company traded as low as $26.01 and last traded at $26.58. Approximately 8,288,956 shares were traded during trading, a decline of 52% from the average daily volume of 17,183,021 shares. The stock had previously closed at $27.36.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RKLB shares. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Citigroup boosted their price target on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Bank of America raised their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald boosted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, KeyCorp upped their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.44.

Rocket Lab USA Trading Down 2.9 %

The stock has a market cap of $13.28 billion, a P/E ratio of -71.81 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock’s fifty day moving average is $22.57 and its 200 day moving average is $12.43.

Insider Buying and Selling

In related news, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last three months. 13.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently modified their holdings of the business. Citigroup Inc. grew its stake in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after purchasing an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after buying an additional 532,207 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the period. FORA Capital LLC purchased a new position in shares of Rocket Lab USA during the 3rd quarter valued at approximately $449,000. Finally, National Bank of Canada FI grew its stake in Rocket Lab USA by 149.2% in the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after acquiring an additional 30,178 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.