Rocket Lab USA (NASDAQ:RKLB) Shares Down 1.6% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) dropped 1.6% during trading on Tuesday . The stock traded as low as $19.88 and last traded at $19.89. Approximately 4,016,847 shares changed hands during trading, a decline of 72% from the average daily volume of 14,509,486 shares. The stock had previously closed at $20.21.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. KeyCorp reduced their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley upped their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Finally, The Goldman Sachs Group increased their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Five equities 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 MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Trading Down 5.2 %

The company has a market capitalization of $8.36 billion, a PE ratio of -49.79 and a beta of 2.06. 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’s fifty day moving average is $23.94 and its 200-day moving average is $19.48.

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

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Rocket Lab USA by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after buying an additional 668,093 shares during the last quarter. Geode Capital Management LLC boosted its position in Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock worth $211,084,000 after purchasing an additional 32,658 shares in the last quarter. FMR LLC grew its stake in shares of Rocket Lab USA by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after purchasing an additional 3,684,195 shares during the period. Northern Trust Corp increased its holdings in shares of Rocket Lab USA by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after purchasing an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after purchasing an additional 23,855 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

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.