Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 0.1% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded down 0.1% during trading on Wednesday . The stock traded as low as $28.93 and last traded at $28.94. 6,456,918 shares traded hands during trading, a decline of 68% from the average session volume of 20,046,977 shares. The stock had previously closed at $28.98.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RKLB. Wells Fargo & Company boosted their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Citigroup increased their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. KeyCorp lifted their price objective on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Stifel Nicolaus upped their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Stock Up 1.8 %

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 stock has a market cap of $14.52 billion, a PE ratio of -78.51 and a beta of 1.98. The firm has a fifty day moving average of $25.96 and a 200 day moving average of $14.77.

Insider Activity

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now owns 534,675 shares in the company, valued at $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab USA

Large investors have recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA during the 4th quarter worth $40,000. New Millennium Group LLC boosted its stake in shares of Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after buying an additional 1,050 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Rocket Lab USA during the second quarter worth about $76,000. Newbridge Financial Services Group Inc. acquired a new position in Rocket Lab USA in the 4th quarter valued at about $76,000. Finally, Allworth Financial LP raised its stake in Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after acquiring an additional 8,992 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

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.