Rocket Lab USA (NASDAQ:RKLB) Shares Down 1.3% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price dropped 1.3% during trading on Tuesday . The stock traded as low as $25.51 and last traded at $25.99. Approximately 4,233,442 shares traded hands during trading, a decline of 65% from the average daily volume of 12,244,378 shares. The stock had previously closed at $26.32.

Analyst Upgrades and Downgrades

RKLB has been the topic of several research reports. KeyCorp upped their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Cantor Fitzgerald increased their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Citigroup upped their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company raised their price target 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. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Trading Down 3.9 %

The firm has a market cap of $12.65 billion, a PE ratio of -68.38 and a beta of 1.96. The company has a 50-day simple moving average of $20.02 and a 200 day simple moving average of $11.28. 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 Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake 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 buying an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rocket Lab USA by 22.7% during the third 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. American Century Companies Inc. raised its stake in Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after purchasing an additional 284,360 shares during the last quarter. Ieq Capital LLC purchased a new position in Rocket Lab USA in the 2nd quarter valued at $5,469,000. Finally, Mizuho Markets Americas LLC purchased a new position in Rocket Lab USA in the 3rd quarter valued at $8,930,000. 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.