Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.1% – Here’s Why

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price fell 1.1% on Wednesday . The stock traded as low as $27.12 and last traded at $27.44. 5,221,307 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 19,261,725 shares. The stock had previously closed at $27.74.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RKLB shares. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped 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. Wells Fargo & Company lifted their price target 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. Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, KeyCorp lifted their target price on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Trading Down 1.1 %

The firm has a market capitalization of $13.71 billion, a PE ratio of -74.15 and a beta of 1.99. The business has a fifty day moving average price of $26.90 and a two-hundred day moving average price of $16.86. 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 at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the sale, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,530 shares of company stock worth $2,944,700 over the last three months. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors have recently modified their holdings of RKLB. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after acquiring an additional 668,093 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after purchasing an additional 32,658 shares during the last quarter. FMR LLC boosted its position in shares of Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after purchasing an additional 3,684,195 shares during the period. Northern Trust Corp increased its holdings in shares of Rocket Lab USA by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after acquiring an additional 281,339 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rocket Lab USA by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after buying an additional 23,855 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.