Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 3.5% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price fell 3.5% during mid-day trading on Tuesday . The stock traded as low as $28.60 and last traded at $28.39. 6,881,817 shares were traded during trading, a decline of 66% from the average session volume of 20,219,502 shares. The stock had previously closed at $29.43.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RKLB shares. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group increased their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, KeyCorp boosted their target price 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Rocket Lab USA Trading Down 1.5 %

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 firm has a 50 day moving average of $25.49 and a 200 day moving average of $14.41. The firm has a market cap of $14.49 billion, a PE ratio of -78.32 and a beta of 1.98.

Insider Activity

In related news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on 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 transaction, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock valued at $38,168,400 in the last 90 days. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

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