Rocket Lab USA (NASDAQ:RKLB) Shares Down 1.4% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price traded down 1.4% on Thursday . The stock traded as low as $27.95 and last traded at $28.19. 5,764,593 shares were traded during mid-day trading, a decline of 70% from the average session volume of 19,337,508 shares. The stock had previously closed at $28.60.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RKLB shares. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. KeyCorp raised their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Bank of America upped their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Citigroup raised their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company upped their price objective 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. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Stock Down 1.0 %

The company has a market cap of $13.70 billion, a price-to-earnings ratio of -74.08 and a beta of 1.99. The stock’s 50-day moving average is $26.33 and its 200-day moving average is $15.73. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Activity

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,124,530 shares of company stock worth $38,404,700. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA during the fourth quarter worth $40,000. Smartleaf Asset Management LLC boosted its position in Rocket Lab USA by 1,565.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after purchasing an additional 1,894 shares during the last quarter. AlphaQuest LLC bought a new position in Rocket Lab USA in the 4th quarter valued at $52,000. Finally, New Millennium Group LLC increased its position in shares of Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares during the last quarter. 71.78% of the stock is 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.