Rocket Lab USA (NASDAQ:RKLB) Shares Down 3.1% – Here’s Why

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

Analyst Ratings Changes

A number of research analysts recently commented on RKLB shares. Citigroup upped their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. KeyCorp upped 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. Cantor Fitzgerald upped their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Bank of America upped their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group upped their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Stock Performance

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 firm has a market cap of $12.97 billion, a price-to-earnings ratio of -67.84 and a beta of 1.96. The company has a fifty day moving average price of $16.89 and a two-hundred day moving average price of $9.78.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA 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 sale, the director now owns 2,351,135 shares in the company, valued at approximately $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 quarter, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Franklin Resources Inc. bought a new position in shares of Rocket Lab USA in the third quarter valued at $107,000. Sanctuary Advisors LLC lifted its stake in shares of Rocket Lab USA by 34.0% in the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock valued at $207,000 after buying an additional 5,381 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Rocket Lab USA in the third quarter valued at $106,000. Geode Capital Management LLC lifted its stake in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Rocket Lab USA by 22.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock valued at $2,213,000 after buying an additional 41,551 shares in 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.