Rocket Lab USA (NASDAQ:RKLB) Shares Down 3.6% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 3.6% on Thursday . The stock traded as low as $28.01 and last traded at $27.83. 10,197,410 shares were traded during mid-day trading, a decline of 49% from the average session volume of 19,812,215 shares. The stock had previously closed at $28.87.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their price objective 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. Citigroup raised their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Cantor Fitzgerald upped their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company lifted 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 report on Wednesday, December 11th. 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 company. Based on data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a market capitalization of $14.26 billion, a price-to-earnings ratio of -77.11 and a beta of 1.98. The business has a fifty day simple moving average of $25.84 and a 200 day simple moving average of $14.68.

Insiders Place Their Bets

In related news, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the sale, the general counsel now owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock worth $38,168,400 in the last quarter. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently made changes to their positions in RKLB. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA in the fourth quarter valued at approximately $40,000. New Millennium Group LLC grew its position in 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 worth $52,000 after acquiring an additional 1,050 shares during the last quarter. Amalgamated Bank grew its position in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Rocket Lab USA in the 2nd quarter worth about $76,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $76,000. 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.