Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.9% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price was down 1.9% during trading on Wednesday . The company traded as low as $25.39 and last traded at $25.87. Approximately 4,488,237 shares changed hands during trading, a decline of 63% from the average daily volume of 12,094,605 shares. The stock had previously closed at $26.37.

Wall Street Analysts Forecast Growth

RKLB has been the subject of several analyst reports. Cantor Fitzgerald lifted 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. KeyCorp boosted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Citigroup upped their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday. Finally, Wells Fargo & Company upped 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 report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA Stock Performance

The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of -62.76 and a beta of 1.96. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The stock’s 50-day moving average is $17.78 and its 200-day moving average is $10.12.

Insider Transactions at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now directly owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now 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 ninety days, insiders sold 2,114,530 shares of company stock worth $38,168,400. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently modified their holdings of the business. Allworth Financial LP raised its position in Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 8,992 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Rocket Lab USA in the second quarter valued at about $46,000. Smith Anglin Financial LLC acquired a new stake in shares of Rocket Lab USA in the third quarter valued at about $104,000. Franklin Resources Inc. bought a new position in shares of Rocket Lab USA during the third quarter worth about $107,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new position in shares of Rocket Lab USA in the third quarter worth approximately $107,000. Institutional investors and hedge funds 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.