Rocket Lab USA (NASDAQ:RKLB) Trading Down 2.1% – Here’s Why

Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 2.1% on Friday . The company traded as low as $24.65 and last traded at $24.73. 4,649,300 shares were traded during trading, a decline of 76% from the average session volume of 19,342,760 shares. The stock had previously closed at $25.26.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RKLB. Bank of America lifted their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Citigroup lifted their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. 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 research note on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Five research 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Trading Down 6.8 %

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm’s 50-day simple moving average is $27.09 and its 200 day simple moving average is $17.27. The stock has a market capitalization of $11.77 billion, a P/E ratio of -63.65 and a beta of 1.99.

Insider Buying and Selling

In related news, insider Frank Klein sold 35,968 shares of Rocket Lab USA 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 owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the transaction, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,530 shares of company stock valued at $2,944,700. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors have recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA in the 4th quarter worth about $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA during the 4th quarter valued at about $40,000. Quarry LP purchased a new position in Rocket Lab USA during the 4th quarter valued at about $48,000. Finally, NewEdge Advisors LLC grew its stake in Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after acquiring an additional 1,750 shares in the last quarter. 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.