Rocket Lab USA (NASDAQ:RKLB) Shares Down 1% – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price traded down 1% during trading on Monday . The stock traded as low as $27.04 and last traded at $28.02. 15,154,841 shares changed hands during trading, a decline of 20% from the average session volume of 18,918,424 shares. The stock had previously closed at $28.30.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup increased their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Bank of America raised 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. Wells Fargo & Company boosted their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald boosted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Five research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Stock Performance

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 company has a fifty day moving average of $26.90 and a two-hundred day moving average of $16.86. The stock has a market capitalization of $12.96 billion, a P/E ratio of -70.08 and a beta of 1.99.

Insider Activity

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction on 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 completion of the transaction, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Frank Klein sold 35,968 shares of the 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 sale, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,530 shares of company stock worth $2,944,700. 13.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

Large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Rocket Lab USA during the 2nd quarter worth approximately $76,000. Creative Planning increased its position in Rocket Lab USA by 39.1% in the third quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer’s stock worth $813,000 after buying an additional 23,504 shares during the period. Venture Visionary Partners LLC bought a new stake in Rocket Lab USA in the third quarter valued at $886,000. Foundations Investment Advisors LLC acquired a new position in shares of Rocket Lab USA during the third quarter valued at $140,000. Finally, International Assets Investment Management LLC grew its position in shares of Rocket Lab USA by 934.5% during the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after acquiring an additional 88,686 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

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.