Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 0.8% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) dropped 0.8% during mid-day trading on Wednesday . The stock traded as low as $24.73 and last traded at $25.23. Approximately 15,344,802 shares changed hands during mid-day trading, an increase of 33% from the average daily volume of 11,547,206 shares. The stock had previously closed at $25.44.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RKLB. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Bank of America increased their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Cantor Fitzgerald boosted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Rocket Lab USA Trading Up 0.3 %

The business’s 50-day simple moving average is $12.52 and its 200-day simple moving average is $7.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of -67.54 and a beta of 1.29.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the business’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 transaction of $35,460,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. bought a new position in shares of Rocket Lab USA during the third quarter worth about $107,000. Sanctuary Advisors LLC raised its holdings in Rocket Lab USA by 34.0% during the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after buying an additional 5,381 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Rocket Lab USA during the third quarter valued at about $106,000. Geode Capital Management LLC raised its holdings in shares of Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Rocket Lab USA by 22.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after purchasing an additional 41,551 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

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.