Rocket Lab USA (NASDAQ:RKLB) Shares Down 2.9% - Should You Sell?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) fell 2.9% during trading on Friday . The company traded as low as $26.01 and last traded at $26.58. 8,288,956 shares were traded during trading, a decline of 52% from the average session volume of 17,183,021 shares. The stock had previously closed at $27.36.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RKLB shares. KeyCorp boosted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research report on Thursday, December 19th. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $5.00 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Cantor Fitzgerald increased their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company raised their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.44.

Rocket Lab USA Stock Performance

The stock has a market capitalization of $13.45 billion, a PE ratio of -72.73 and a beta of 1.98. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average of $22.57 and a 200-day moving average of $12.43.

Insider Transactions at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares of the company's stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in Rocket Lab USA during the fourth quarter worth approximately $2,395,000. Everence Capital Management Inc. purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at $286,000. Franklin Resources Inc. acquired a new stake in Rocket Lab USA during the 3rd quarter worth $107,000. Sanctuary Advisors LLC lifted its position in 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 acquiring an additional 5,381 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new stake in Rocket Lab USA in the third quarter valued at $106,000. 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.