Rocket Lab USA (NASDAQ:RKLB) Shares Down 3.5% - Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s share price traded down 3.5% during mid-day trading on Friday . The stock traded as low as $26.80 and last traded at $27.45. 8,039,126 shares were traded during trading, a decline of 34% from the average session volume of 12,239,016 shares. The stock had previously closed at $28.44.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a report on Thursday, December 19th. Bank of America upped their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their target price on Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group raised 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. Five research 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $17.44.

Rocket Lab USA Price 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 company has a market cap of $13.61 billion, a P/E ratio of -73.57 and a beta of 1.96. The firm has a 50 day moving average price of $19.39 and a two-hundred day moving average price of $10.88.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the firm's stock in a transaction dated 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 $12,297,525. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the transaction, the general counsel now owns 608,996 shares of the company's stock, 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. In the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RKLB. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Rocket Lab USA by 54.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the rocket manufacturer's stock worth $282,000 after purchasing an additional 20,636 shares during the period. Principal Financial Group Inc. boosted its position in shares of Rocket Lab USA by 23.4% during the 2nd quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer's stock valued at $226,000 after acquiring an additional 8,928 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at about $46,000. nVerses Capital LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at about $121,000. Finally, Verus Capital Partners LLC boosted its position in shares of Rocket Lab USA by 11.9% during the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer's stock valued at $159,000 after acquiring an additional 3,525 shares during the last quarter. Institutional investors 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.