Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price was down 3.2% during mid-day trading on Monday . The stock traded as low as $28.48 and last traded at $29.38. Approximately 8,756,796 shares changed hands during trading, a decline of 57% from the average daily volume of 20,586,492 shares. The stock had previously closed at $30.36.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Stifel Nicolaus boosted 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. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Thursday, December 19th. KeyCorp increased their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald lifted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA has an average rating of "Moderate Buy" and an average price target of $20.06.
Read Our Latest Stock Analysis on Rocket Lab USA
Rocket Lab USA Stock Performance
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 50 day moving average of $25.29 and a two-hundred day moving average of $14.24. The stock has a market cap of $14.69 billion, a P/E ratio of -79.44 and a beta of 1.98.
Insider Transactions at Rocket Lab USA
In other news, Director Alexander R. Slusky sold 50,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were 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 trade represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA 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 sale, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company's stock.
Institutional Trading of Rocket Lab USA
A number of large investors have recently bought and sold shares of the stock. New Millennium Group LLC boosted its holdings in shares of Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock worth $52,000 after acquiring an additional 1,050 shares in the last quarter. Amalgamated Bank raised 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 purchasing an additional 2,538 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Rocket Lab USA in the second quarter worth $76,000. Allworth Financial LP grew its holdings in shares of Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer's stock worth $92,000 after purchasing an additional 8,992 shares during the last quarter. Finally, Smith Anglin Financial LLC bought a new stake in shares of Rocket Lab USA during the third quarter worth $104,000. 71.78% of the stock is currently owned by institutional investors.
About Rocket Lab USA
(
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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.
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