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

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RKLB. KeyCorp increased their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus increased their price target 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. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Finally, Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. 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 stock. According to MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Stock Performance

The firm’s fifty day moving average price is $26.80 and its 200-day moving average price is $16.69. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of -75.73 and a beta of 1.99.

Insiders Place Their Bets

In other news, General Counsel Arjun Kampani sold 28,562 shares of the 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 in the company, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,530 shares of company stock valued at $2,944,700. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RKLB. Sanctuary Advisors LLC purchased a new position in Rocket Lab USA in the 2nd quarter valued at $76,000. Creative Planning boosted its holdings in shares of Rocket Lab USA by 39.1% in the third quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer’s stock valued at $813,000 after acquiring an additional 23,504 shares in the last quarter. Venture Visionary Partners LLC purchased a new stake in Rocket Lab USA in the 3rd quarter valued at approximately $886,000. Foundations Investment Advisors LLC acquired a new position in Rocket Lab USA during the 3rd quarter worth approximately $140,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Rocket Lab USA by 934.5% in the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock valued at $10,090,000 after buying an additional 88,686 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Company Profile

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.