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

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price traded down 3.6% during trading on Tuesday . The company traded as low as $28.89 and last traded at $29.49. 9,007,690 shares changed hands during trading, a decline of 54% from the average session volume of 19,575,111 shares. The stock had previously closed at $30.60.

Analyst Upgrades and Downgrades

Several research firms have commented on RKLB. KeyCorp raised their target price on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup raised their price target 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. Bank of America lifted their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Trading Down 6.6 %

The firm’s fifty day simple moving average is $26.46 and its 200-day simple moving average is $16.05. The stock has a market cap of $14.28 billion, a P/E ratio of -77.27 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Activity at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, the director now owns 132,294 shares in the company, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,124,530 shares of company stock valued at $38,404,700 over the last ninety days. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors have recently added to or reduced their stakes in the business. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA in the 4th quarter worth about $25,000. Sandy Spring Bank purchased a new position in shares of Rocket Lab USA in the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Rocket Lab USA in the 4th quarter worth about $40,000. New Millennium Group LLC boosted its holdings in shares of Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after purchasing an additional 1,050 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter worth about $52,000. 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.