Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) gapped down prior to trading on Monday . The stock had previously closed at $26.91, but opened at $25.55. Rocket Lab USA shares last traded at $25.23, with a volume of 4,189,622 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RKLB. Citigroup upped their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group boosted 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 report on Tuesday, November 19th. Finally, Bank of America raised their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.44.

Rocket Lab USA Price Performance

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The business has a fifty day moving average of $23.38 and a 200 day moving average of $12.96. The firm has a market cap of $12.08 billion, a P/E ratio of -65.30 and a beta of 1.98.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction on Monday, November 25th. The stock was 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 in the company, valued at $35,356,372.80. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last ninety days. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RKLB. Allworth Financial LP boosted its stake in shares of Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 8,992 shares during the period. Smith Anglin Financial LLC bought a new stake in shares of Rocket Lab USA during the 3rd quarter valued at $104,000. Franklin Resources Inc. bought a new stake in Rocket Lab USA during the third quarter worth about $107,000. Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $107,000. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $106,000. Institutional investors and hedge funds 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.