Rocket Lab USA (NASDAQ:RKLB) Trading Down 0.1% – Here’s What Happened

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) were down 0.1% during trading on Wednesday . The stock traded as low as $28.93 and last traded at $28.94. Approximately 6,456,918 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 20,046,977 shares. The stock had previously closed at $28.98.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RKLB shares. KeyCorp increased their price target 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. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Citigroup increased their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Bank of America upped 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. Finally, Cantor Fitzgerald upped their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Stock Performance

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 $14.47 billion, a PE ratio of -78.54 and a beta of 1.98. The stock’s 50 day simple moving average is $25.66 and its two-hundred day simple moving average is $14.58.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently made changes to their positions in the business. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter worth $40,000. New Millennium Group LLC increased its position in shares of Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after acquiring an additional 1,050 shares in the last quarter. Amalgamated Bank increased its position in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Rocket Lab USA in the second quarter worth $76,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter worth $76,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.