Rocket Lab USA (NASDAQ:RKLB) Shares Down 1.4% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price fell 1.4% during trading on Thursday . The stock traded as low as $27.95 and last traded at $28.19. 5,764,593 shares were traded during mid-day trading, a decline of 70% from the average session volume of 19,337,508 shares. The stock had previously closed at $28.60.

Analysts Set New Price Targets

RKLB has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, KeyCorp lifted their target price on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Stock Up 0.2 %

The company has a fifty day moving average of $26.28 and a 200 day moving average of $15.49. 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 company has a market cap of $14.32 billion, a P/E ratio of -77.22 and a beta of 1.99.

Insider Activity

In other news, Director Matthew Ocko sold 2,000,000 shares of the company’s 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 approximately $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock worth $38,168,400 over the last ninety days. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Spectrum Wealth Counsel LLC acquired a new stake in Rocket Lab USA in the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA in the 4th quarter worth approximately $40,000. New Millennium Group LLC raised its position in shares of Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after buying an additional 1,050 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Rocket Lab USA by 1,565.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after buying an additional 1,894 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in Rocket Lab USA in the 4th quarter valued at approximately $58,000. Hedge funds and other 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.