Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.1% - Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price was down 1.1% during mid-day trading on Wednesday . The company traded as low as $27.12 and last traded at $27.44. Approximately 5,221,307 shares traded hands during trading, a decline of 73% from the average daily volume of 19,261,725 shares. The stock had previously closed at $27.74.

Analyst Ratings Changes

A number of research analysts recently issued reports on RKLB shares. Bank of America raised their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Citigroup raised their price target on Rocket Lab USA from $22.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. KeyCorp lifted their target price on Rocket Lab USA from $27.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. 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 stock. Based on data from MarketBeat, Rocket Lab USA currently has an average rating of "Moderate Buy" and an average target price of $22.28.

Rocket Lab USA Stock Down 6.8 %

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a fifty day moving average price of $27.09 and a 200 day moving average price of $17.27. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of -63.65 and a beta of 1.99.

Insider Activity

In other news, insider Frank Klein sold 35,968 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares of the company's stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the transaction, the director now directly owns 132,294 shares of the company's stock, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,530 shares of company stock valued at $2,944,700 in the last three months. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. raised its holdings in Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock worth $6,727,000 after purchasing an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock worth $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock worth $80,317,000 after purchasing an additional 898,223 shares during the last quarter. FORA Capital LLC acquired a new position in Rocket Lab USA during the third quarter worth $449,000. Finally, National Bank of Canada FI raised its holdings in Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer's stock worth $490,000 after purchasing an additional 30,178 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

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.