Rocket Lab USA (NASDAQ:RKLB) Trading Down 4.3% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price fell 4.3% on Wednesday . The stock traded as low as $26.20 and last traded at $26.75. 8,781,765 shares were traded during mid-day trading, a decline of 49% from the average session volume of 17,068,922 shares. The stock had previously closed at $27.95.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. JMP Securities began coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.44.

Rocket Lab USA Trading Down 1.9 %

The company has a 50-day moving average of $21.91 and a 200 day moving average of $12.22. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company has a market cap of $13.71 billion, a PE ratio of -74.11 and a beta of 1.98.

Insider Transactions at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in shares of Rocket Lab USA by 23.4% in the second quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock worth $226,000 after purchasing an additional 8,928 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in Rocket Lab USA in the 2nd quarter valued at about $67,000. Rhumbline Advisers grew its stake in Rocket Lab USA by 24.2% in the 2nd quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock worth $2,305,000 after acquiring an additional 93,447 shares in the last quarter. National Bank of Canada FI increased its position in shares of Rocket Lab USA by 97.8% during the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 10,000 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Rocket Lab USA by 21.2% during the second quarter. Arizona State Retirement System now owns 89,008 shares of the rocket manufacturer’s stock valued at $427,000 after acquiring an additional 15,565 shares in the last quarter. 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.