Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.4% – What’s Next?

Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) fell 1.4% during mid-day trading on Thursday . The company traded as low as $27.12 and last traded at $27.23. 7,307,569 shares traded hands during trading, a decline of 62% from the average session volume of 19,431,959 shares. The stock had previously closed at $27.62.

Analyst Upgrades and Downgrades

RKLB has been the subject of several research reports. Wells Fargo & Company increased their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. KeyCorp increased their price target on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup raised their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Cantor Fitzgerald raised their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Trading Up 1.2 %

The stock has a market capitalization of $13.98 billion, a P/E ratio of -75.58 and a beta of 1.99. 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 business’s 50 day simple moving average is $26.65 and its 200-day simple moving average is $16.29.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the sale, the director now directly owns 132,294 shares in the company, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,530 shares of company stock valued at $2,944,700. 13.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Rocket Lab USA by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after purchasing an additional 3,684,195 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Rocket Lab USA by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock valued at $46,325,000 after purchasing an additional 1,721,300 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $8,930,000. Geode Capital Management LLC lifted its holdings in shares of Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $21,896,000. 71.78% of the stock is currently 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.