Rocket Lab USA (NASDAQ:RKLB) Trading Down 8.8% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was down 8.8% on Tuesday . The stock traded as low as $19.78 and last traded at $20.51. Approximately 14,719,849 shares changed hands during trading, a decline of 24% from the average daily volume of 19,493,992 shares. The stock had previously closed at $22.49.

Wall Street Analyst Weigh In

A number of research firms recently commented on RKLB. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday. The Goldman Sachs Group lifted their price target 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. Wells Fargo & Company upped their price objective 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. Finally, Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Trading Down 9.0 %

The business’s 50-day simple moving average is $27.02 and its 200-day simple moving average is $17.57. The company has a market cap of $10.23 billion, a PE ratio of -55.45 and a beta of 1.99. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA during the 4th quarter worth $25,000. Sandy Spring Bank bought a new stake in Rocket Lab USA during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $40,000. Quarry LP bought a new position in shares of Rocket Lab USA in the fourth quarter worth about $48,000. Finally, NewEdge Advisors LLC lifted its position in shares of Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after purchasing an additional 1,750 shares during the last quarter. 71.78% of the stock is 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.