Rocket Lab USA (NASDAQ:RKLB) Shares Down 3.6% – Time to Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) traded down 3.6% on Thursday . The stock traded as low as $28.01 and last traded at $27.83. Approximately 10,197,410 shares traded 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 Ratings Changes

RKLB has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted 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. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their target price 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. KeyCorp increased their price target on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Cantor Fitzgerald lifted 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. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Trading Up 1.8 %

The firm has a market capitalization of $14.52 billion, a PE ratio of -78.51 and a beta of 1.98. The company’s 50-day moving average price is $25.96 and its 200-day moving average price is $14.77. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Transactions at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Rocket Lab USA by 21.2% in the second quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer’s stock valued at $985,000 after acquiring an additional 35,849 shares during the period. Algert Global LLC acquired a new stake in Rocket Lab USA during the 2nd quarter worth $154,000. Creative Planning boosted its stake in Rocket Lab USA by 63.3% during the 2nd quarter. Creative Planning now owns 60,043 shares of the rocket manufacturer’s stock worth $288,000 after purchasing an additional 23,264 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Rocket Lab USA by 24.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 27,334 shares of the rocket manufacturer’s stock worth $131,000 after purchasing an additional 5,332 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Rocket Lab USA in the second quarter valued at $76,000. 71.78% of the stock is owned by institutional investors and hedge funds.

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.