Rocket Lab USA (NASDAQ:RKLB) Trading Down 3.6% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price fell 3.6% during trading on Thursday . The company traded as low as $28.01 and last traded at $27.83. 10,197,410 shares changed hands during trading, a decline of 49% from the average session volume of 19,812,215 shares. The stock had previously closed at $28.87.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RKLB shares. Cantor Fitzgerald lifted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted 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. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Bank of America increased their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Trading Down 1.2 %

The business’s 50 day simple moving average is $25.84 and its 200-day simple moving average is $14.68. The stock has a market capitalization of $14.26 billion, a P/E ratio of -77.11 and a beta of 1.98. 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 Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the 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 sale, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the sale, the general counsel now owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

Large investors have recently bought and sold shares of the business. Citigroup Inc. boosted its holdings in shares of Rocket Lab USA by 46.8% in 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. boosted its stake in Rocket Lab USA by 22.7% in 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 during the period. 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 stake in shares of Rocket Lab USA in the 3rd quarter valued at about $449,000. Finally, National Bank of Canada FI lifted its holdings in shares of Rocket Lab USA by 149.2% in the third 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. 71.78% of the stock is owned by 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.