Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.3% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 1.3% on Tuesday . The stock traded as low as $25.51 and last traded at $25.99. 4,233,442 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 12,244,378 shares. The stock had previously closed at $26.32.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company increased their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group boosted their target price 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 raised their target price 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. Finally, JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Stock Down 3.2 %

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 $12.73 billion, a PE ratio of -68.84 and a beta of 1.96. The business’s 50 day moving average price is $20.60 and its 200 day moving average price is $11.53.

Insider Activity at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the transaction, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the sale, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rocket Lab USA by 54.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the rocket manufacturer’s stock valued at $282,000 after buying an additional 20,636 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Rocket Lab USA by 23.4% during the 2nd quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock worth $226,000 after buying an additional 8,928 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Rocket Lab USA in the second quarter valued at $46,000. Verus Capital Partners LLC increased its holdings in shares of Rocket Lab USA by 11.9% in the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after purchasing an additional 3,525 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Rocket Lab USA during the 2nd quarter valued at approximately $67,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.