Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 3.1% - Should You Sell?

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on RKLB. Citigroup lifted their target price on Rocket Lab USA from $13.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, November 18th. KeyCorp upped their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. JMP Securities assumed coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a "market perform" rating for the company. Stifel Nicolaus upped their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.44.

Rocket Lab USA Price Performance

The stock's 50-day moving average is $17.23 and its 200 day moving average is $9.93. The company has a market cap of $13.18 billion, a PE ratio of -71.27 and a beta of 1.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insider Buying and Selling

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the business'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 sale, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed 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 dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company's stock, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 in the last ninety days. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock valued at $80,317,000 after acquiring an additional 898,223 shares during the last quarter. ARK Investment Management LLC lifted its position in Rocket Lab USA by 6.6% during the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer's stock valued at $30,226,000 after purchasing an additional 391,778 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. American Century Companies Inc. grew its position in Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer's stock worth $13,713,000 after purchasing an additional 284,360 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer's stock worth $10,193,000 after purchasing an additional 432,501 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Company Profile

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.