Rocket Lab (NASDAQ:RKLB) Trading Down 3.3% – Time to Sell?

Rocket Lab Corporation (NASDAQ:RKLB) shares fell 3.3% during mid-day trading on Thursday . The stock traded as low as $83.00 and last traded at $85.68. 15,668,305 shares traded hands during trading, a decline of 42% from the average session volume of 26,821,977 shares. The stock had previously closed at $88.57.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RKLB shares. Zacks Research raised shares of Rocket Lab from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Morgan Stanley upgraded shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $67.00 to $105.00 in a report on Friday, January 16th. Stifel Nicolaus increased their price objective on Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Robert W. Baird raised shares of Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.92.

Rocket Lab Price Performance

The stock has a fifty day simple moving average of $68.19 and a 200-day simple moving average of $57.06. The stock has a market cap of $45.77 billion, a price-to-earnings ratio of -225.47 and a beta of 2.16. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The business’s revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) EPS. As a group, equities research analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Buying and Selling

In other Rocket Lab news, Director Edward H. Frank sold 2,500 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $77.39, for a total value of $193,475.00. Following the transaction, the director owned 142,504 shares of the company’s stock, valued at approximately $11,028,384.56. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Merline Saintil sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $90.00, for a total transaction of $1,125,000.00. Following the completion of the sale, the director directly owned 280,029 shares of the company’s stock, valued at approximately $25,202,610. This represents a 4.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,306,150 shares of company stock worth $271,865,732. Insiders own 11.90% of the company’s stock.

Institutional Trading of Rocket Lab

Institutional investors have recently bought and sold shares of the business. Aprio Wealth Management LLC bought a new stake in shares of Rocket Lab during the 4th quarter valued at $207,000. D.A. Davidson & CO. increased its holdings in Rocket Lab by 464.7% in the fourth quarter. D.A. Davidson & CO. now owns 24,541 shares of the rocket manufacturer’s stock valued at $1,712,000 after purchasing an additional 20,195 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Rocket Lab by 27.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 12,110 shares of the rocket manufacturer’s stock valued at $845,000 after purchasing an additional 2,615 shares during the last quarter. Facet Wealth Inc. acquired a new position in Rocket Lab in the fourth quarter valued at about $198,000. Finally, Huntleigh Advisors Inc. boosted its holdings in Rocket Lab by 5.7% during the fourth quarter. Huntleigh Advisors Inc. now owns 44,105 shares of the rocket manufacturer’s stock worth $3,077,000 after buying an additional 2,374 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.