Rocket Lab USA (NASDAQ:RKLB) Trading Down 5% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares dropped 5% during mid-day trading on Monday . The company traded as low as $17.35 and last traded at $17.70. Approximately 6,258,611 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 14,689,633 shares. The stock had previously closed at $18.62.

Analysts Set New Price Targets

Several analysts have recently commented on the company. KeyCorp decreased their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Stifel Nicolaus increased their price target 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. Wells Fargo & Company lowered their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Morgan Stanley increased their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Price Performance

The company’s 50-day simple moving average is $23.33 and its 200 day simple moving average is $19.89. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of -49.05 and a beta of 2.06. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

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

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew 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 acquiring an additional 668,093 shares during the last quarter. Geode Capital Management LLC grew 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 during the last quarter. FMR LLC increased its holdings 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 raised its position in shares of Rocket Lab USA by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after buying an additional 281,339 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Rocket Lab USA by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after buying an additional 23,855 shares during the period. 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.