Rocket Lab USA (NASDAQ:RKLB) Shares Down 1.5% - Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price was down 1.5% during mid-day trading on Wednesday . The company traded as low as $10.95 and last traded at $10.99. Approximately 2,714,479 shares traded hands during trading, a decline of 72% from the average daily volume of 9,828,051 shares. The stock had previously closed at $11.16.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RKLB shares. JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a "market perform" rating for the company. Morgan Stanley lowered shares of Rocket Lab USA from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $8.00 to $6.00 in a report on Monday, July 15th. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $4.50 to $5.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Cantor Fitzgerald reissued an "overweight" rating and set a $7.00 price objective on shares of Rocket Lab USA in a research report on Monday, September 30th. Finally, KeyCorp lifted their price target on shares of Rocket Lab USA from $8.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.75.

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Rocket Lab USA Trading Down 2.2 %

The company has a market capitalization of $5.38 billion, a P/E ratio of -29.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The stock's 50 day moving average is $8.04 and its 200-day moving average is $5.75.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to analysts' expectations of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The business's quarterly revenue was up 71.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) EPS. As a group, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares of the company's stock, valued at $4,437,403.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Rocket Lab USA by 934.5% during the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer's stock worth $10,090,000 after buying an additional 88,686 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Rocket Lab USA in the third quarter valued at $140,000. Venture Visionary Partners LLC purchased a new position in shares of Rocket Lab USA during the third quarter worth approximately $886,000. Tamar Securities LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth about $108,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Rocket Lab USA by 48.1% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,358 shares of the rocket manufacturer's stock valued at $286,000 after purchasing an additional 9,539 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

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.