Rocket Lab USA (NASDAQ:RKLB) Shares Down 3.1% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price traded down 3.1% on Tuesday . The stock traded as low as $24.53 and last traded at $25.10. 5,924,167 shares were traded during trading, a decline of 51% from the average session volume of 12,085,798 shares. The stock had previously closed at $25.90.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RKLB shares. The Goldman Sachs Group upped their target price on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. KeyCorp increased their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald lifted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Trading Up 1.3 %

The company’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $10.02. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a market cap of $11.61 billion, a price-to-earnings ratio of -62.76 and a beta of 1.96.

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 that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now owns 2,351,135 shares in the company, valued at $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 is available at the SEC website. Also, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 in the last three months. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ieq Capital LLC bought a new position in shares of Rocket Lab USA in the 2nd quarter worth $5,469,000. Mizuho Markets Americas LLC acquired a new position in Rocket Lab USA in the third quarter valued at about $8,930,000. Geode Capital Management LLC boosted its holdings in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after buying an additional 532,207 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after acquiring an additional 432,501 shares during the last quarter. 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.