Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 2.9% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded down 2.9% on Friday . The stock traded as low as $26.01 and last traded at $26.58. 8,288,956 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 17,183,021 shares. The stock had previously closed at $27.36.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RKLB shares. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Bank of America raised 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. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.44.

Rocket Lab USA Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company has a market capitalization of $13.45 billion, a P/E ratio of -72.73 and a beta of 1.98. The firm has a fifty day moving average price of $22.88 and a 200-day moving average price of $12.64.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the 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 completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock worth $38,168,400 in the last quarter. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

A number of large investors have recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of 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 acquiring an additional 8,992 shares during the period. Smith Anglin Financial LLC bought a new position in Rocket Lab USA during the third quarter worth about $104,000. Franklin Resources Inc. purchased a new position in shares of Rocket Lab USA in the third quarter worth about $107,000. Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Rocket Lab USA during the 3rd quarter valued at approximately $107,000. Finally, Arete Wealth Advisors LLC bought a new position in Rocket Lab USA in the 3rd quarter worth approximately $106,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.