Rocket Lab USA (NASDAQ:RKLB) Trading Down 3.5% - Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) dropped 3.5% on Tuesday . The stock traded as low as $28.60 and last traded at $28.39. Approximately 6,881,817 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 20,219,502 shares. The stock had previously closed at $29.43.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RKLB shares. Cantor Fitzgerald raised their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Bank of America increased their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Finally, Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Five investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.28.

Rocket Lab USA Trading Up 1.8 %

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a market capitalization of $14.52 billion, a price-to-earnings ratio of -78.51 and a beta of 1.98. The company has a 50-day moving average price of $26.07 and a 200-day moving average price of $15.00.

Insiders Place Their Bets

In other Rocket Lab USA news, 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 transaction, the director now owns 2,351,135 shares of the company's stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares of the company's stock, valued at $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently made changes to their positions in the business. Mizuho Markets Americas LLC acquired a new stake in Rocket Lab USA in the third quarter valued at $8,930,000. Geode Capital Management LLC increased its holdings in Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock valued at $80,317,000 after buying an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock valued at $28,006,000 after acquiring an additional 532,207 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $2,651,000. Finally, Citigroup Inc. boosted its stake in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock worth $6,727,000 after acquiring an additional 220,432 shares in the last quarter. 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.