Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 9.2% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares dropped 9.2% during mid-day trading on Thursday . The company traded as low as $17.43 and last traded at $17.57. Approximately 6,579,398 shares were traded during trading, a decline of 55% from the average daily volume of 14,738,406 shares. The stock had previously closed at $19.34.

Wall Street Analyst Weigh In

RKLB has been the topic of several research reports. Morgan Stanley raised their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Stifel Nicolaus raised their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Citigroup cut their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Trading Down 7.5 %

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 business’s fifty day simple moving average is $23.12 and its 200 day simple moving average is $19.89. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of -48.35 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Hedge funds have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC increased its holdings in shares of Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after acquiring an additional 334 shares during the period. Wellington Shields & Co. LLC increased its stake in shares of Rocket Lab USA by 0.5% in the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock valued at $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC raised its holdings in shares of Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after buying an additional 653 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Rocket Lab USA by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock worth $554,000 after buying an additional 696 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Rocket Lab USA by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after buying an additional 746 shares in the last quarter. 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.