Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 2.6% – Time to Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) dropped 2.6% on Monday . The stock traded as low as $23.94 and last traded at $24.00. Approximately 14,031,539 shares changed hands during trading, a decline of 6% from the average daily volume of 14,879,312 shares. The stock had previously closed at $24.64.

Analysts Set New Price Targets

Several research firms recently commented on RKLB. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. KeyCorp increased 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. The Goldman Sachs Group increased their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Cantor Fitzgerald increased their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Rocket Lab USA Stock Performance

The firm has a 50-day moving average of $24.23 and a 200 day moving average of $13.52. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA 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 sale, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. lifted its holdings in 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 buying an additional 220,432 shares in the last quarter. 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 purchasing an additional 532,207 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 purchasing an additional 898,223 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Rocket Lab USA during the 3rd quarter worth about $449,000. Finally, National Bank of Canada FI boosted its stake 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 worth $490,000 after buying an additional 30,178 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.