Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 3% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was down 3% on Friday . The stock traded as low as $27.04 and last traded at $27.45. Approximately 5,960,347 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 19,351,092 shares. The stock had previously closed at $28.30.

Analyst Ratings Changes

Several brokerages recently issued reports on RKLB. KeyCorp boosted their target price on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped 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. Citigroup lifted 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. Wells Fargo & Company upped their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald boosted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Stock Performance

The company has a fifty day moving average of $26.80 and a two-hundred day moving average of $16.61. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Activity

In related news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Klein sold 35,968 shares of the firm’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 owns 1,464,032 shares in the company, valued at $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,530 shares of company stock valued at $2,944,700. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in RKLB. Vanguard Group Inc. increased its position in Rocket Lab USA by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after purchasing an additional 668,093 shares during the period. Geode Capital Management LLC increased its holdings in Rocket Lab USA by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after buying an additional 32,658 shares during the period. FMR LLC raised its stake in Rocket Lab USA by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after buying an additional 3,684,195 shares in the last quarter. Northern Trust Corp lifted its holdings in 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 worth $82,207,000 after buying an additional 281,339 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rocket Lab USA by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock worth $73,919,000 after buying an additional 23,855 shares during the period. Institutional investors own 71.78% of the company’s stock.

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.