Rocket Lab USA (NASDAQ:RKLB) Trading Down 0.4% – Time to Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 0.4% during trading on Thursday . The stock traded as low as $28.51 and last traded at $29.50. 6,919,620 shares traded hands during trading, a decline of 65% from the average session volume of 19,950,371 shares. The stock had previously closed at $29.62.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Wells Fargo & Company upped their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Stifel Nicolaus boosted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, KeyCorp upped 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. Five 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Rocket Lab USA Stock Performance

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 business has a 50 day simple moving average of $24.78 and a two-hundred day simple moving average of $13.82. The firm has a market cap of $14.95 billion, a PE ratio of -80.85 and a beta of 1.98.

Insiders Place Their Bets

In other news, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 sale, the director now directly owns 534,675 shares in the company, 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. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of RKLB. Amalgamated Bank raised its position in Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Rocket Lab USA in the second quarter valued at approximately $76,000. Allworth Financial LP increased its position in shares of Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 8,992 shares in the last quarter. Smith Anglin Financial LLC acquired a new stake in shares of Rocket Lab USA in the third quarter worth approximately $104,000. Finally, Xponance Inc. boosted its stake in shares of Rocket Lab USA by 29.1% in the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock worth $106,000 after acquiring an additional 4,997 shares during the last quarter. Institutional investors and hedge funds 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.