Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB) 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 changing hands.

Analyst Ratings Changes

Several research analysts have recently commented on RKLB shares. JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. KeyCorp lifted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Stifel Nicolaus upped 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 lifted their price target on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Five investment 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 MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Stock Performance

The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $18.08 and a 200-day moving average price of $10.30. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of -67.21 and a beta of 1.96.

Insider Activity at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the transaction, the general counsel now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Frank Klein sold 35,968 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 $868,627.20. Following the completion of the sale, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 in the last three months. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in shares of Rocket Lab USA by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after purchasing an additional 1,709 shares during the period. Wellington Shields & Co. LLC grew its position in Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after buying an additional 2,503 shares during the period. Amalgamated Bank increased its holdings in Rocket Lab USA by 26.7% in the second 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 in the last quarter. Lakeridge Wealth Management LLC lifted its position in shares of Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after acquiring an additional 3,000 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Rocket Lab USA by 28.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock worth $140,000 after acquiring an additional 3,220 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.