Rocket Lab USA (NASDAQ:RKLB) Trading Down 0.4% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares dropped 0.4% on Thursday . The company traded as low as $28.51 and last traded at $29.50. Approximately 6,919,620 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 19,950,371 shares. The stock had previously closed at $29.62.

Analyst Ratings Changes

RKLB has been the topic of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Cantor Fitzgerald upped their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, KeyCorp upped their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Five investment 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 data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Rocket Lab USA Price Performance

The company has a market cap of $14.95 billion, a price-to-earnings ratio of -80.85 and a beta of 1.98. The company has a 50 day moving average price of $24.78 and a 200-day moving average price of $13.82. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frank Klein sold 35,968 shares of the 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 completion of the transaction, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds have recently made changes to their positions in RKLB. Geode Capital Management LLC grew 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 valued at $80,317,000 after buying an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $28,006,000 after buying an additional 532,207 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Rocket Lab USA during the 3rd quarter valued at about $8,930,000. Citigroup Inc. raised its stake in 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 purchasing an additional 220,432 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Rocket Lab USA during the third quarter valued at approximately $2,651,000. 71.78% of the stock is currently owned by institutional investors.

About Rocket Lab USA

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.