Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.4% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 1.4% during mid-day trading on Thursday . The company traded as low as $27.12 and last traded at $27.23. 7,307,569 shares traded hands during trading, a decline of 62% from the average session volume of 19,431,959 shares. The stock had previously closed at $27.62.

Analyst Ratings Changes

A number of research firms recently issued reports on RKLB. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. KeyCorp upped their price objective 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, January 29th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Cantor Fitzgerald upped their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company upped 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 report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Price Performance

The firm has a fifty day moving average price of $26.65 and a two-hundred day moving average price of $16.29. The stock has a market capitalization of $13.98 billion, a P/E ratio of -75.58 and a beta of 1.99. 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 Buying and Selling

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 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 transaction of $689,772.30. Following the sale, the general counsel now directly owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,530 shares of company stock valued at $2,944,700. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 1.9% in the fourth 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 during the period. Geode Capital Management LLC grew its stake in Rocket Lab USA by 0.4% during 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 acquiring an additional 32,658 shares in the last quarter. FMR LLC grew its stake 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 buying an additional 3,684,195 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Lab USA by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock worth $73,919,000 after purchasing an additional 23,855 shares during the period. Finally, Invesco Ltd. lifted its holdings in Rocket Lab USA by 41.1% during the 4th quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer’s stock worth $60,994,000 after buying an additional 697,574 shares in the last quarter. 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.