Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down - What's Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $23.22, but opened at $22.14. Rocket Lab USA shares last traded at $22.77, with a volume of 2,542,774 shares.

Analyst Ratings Changes

Several brokerages have commented on RKLB. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Thursday. Wells Fargo & Company boosted their price target 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. JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a "market perform" rating for the company. Finally, Stifel Nicolaus boosted 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. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and an average price target of $17.44.

Rocket Lab USA Trading Up 7.1 %

The stock's 50-day simple moving average is $17.78 and its two-hundred day simple moving average is $10.12. 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 capitalization of $12.43 billion, a P/E ratio of -67.21 and a beta of 1.96.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the business's 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 transaction, the general counsel now directly owns 608,996 shares in the company, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock valued at $38,168,400 in the last three months. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Rocket Lab USA during the second quarter valued at $46,000. Amalgamated Bank boosted its position in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock valued at $58,000 after buying an additional 2,538 shares during the period. CIBC Asset Management Inc bought a new position in Rocket Lab USA in the 2nd quarter worth about $67,000. Sanctuary Advisors LLC purchased a new position in shares of Rocket Lab USA during the second quarter worth approximately $76,000. Finally, National Bank of Canada FI increased its position in shares of Rocket Lab USA by 97.8% during the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer's stock worth $92,000 after acquiring an additional 10,000 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.