Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 3.2% - Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) fell 3.2% on Wednesday . The company traded as low as $25.18 and last traded at $25.47. 13,057,035 shares changed hands during trading, an increase of 6% from the average session volume of 12,281,271 shares. The stock had previously closed at $26.32.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Wells Fargo & Company boosted their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 11th. Citigroup increased their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, November 18th. KeyCorp boosted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Finally, TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.44.

Rocket Lab USA Price Performance

The stock has a 50-day simple moving average of $20.60 and a 200 day simple moving average of $11.53. The stock has a market capitalization of $12.73 billion, a P/E ratio of -68.84 and a beta of 1.96. 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 Activity at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last 90 days. Insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RKLB. International Assets Investment Management LLC acquired a new position in Rocket Lab USA in the second quarter valued at about $46,000. Amalgamated Bank boosted its stake in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Rocket Lab USA during the second quarter valued at approximately $67,000. Sanctuary Advisors LLC bought a new stake in Rocket Lab USA in the second quarter valued at approximately $76,000. Finally, National Bank of Canada FI raised its holdings in Rocket Lab USA by 97.8% in the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer's stock worth $92,000 after purchasing an additional 10,000 shares during the period. 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.