Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.3% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price fell 1.3% during trading on Tuesday . The company traded as low as $25.51 and last traded at $25.99. 4,233,442 shares changed hands during trading, a decline of 65% from the average session volume of 12,244,378 shares. The stock had previously closed at $26.32.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RKLB. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company upped their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Cantor Fitzgerald lifted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. KeyCorp increased their target price 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, JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Five 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Stock Down 3.2 %

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 company has a 50 day moving average of $20.60 and a 200-day moving average of $11.53. The company has a market capitalization of $12.73 billion, a P/E ratio of -68.84 and a beta of 1.96.

Insider Buying and Selling

In other news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 over the last quarter. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Rocket Lab USA in the 2nd quarter worth approximately $46,000. Amalgamated Bank boosted its position in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the period. CIBC Asset Management Inc bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $67,000. Sanctuary Advisors LLC bought a new position in Rocket Lab USA in the 2nd quarter worth $76,000. Finally, National Bank of Canada FI boosted its stake in shares of Rocket Lab USA by 97.8% in the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 10,000 shares during the period. 71.78% of the stock is currently owned by institutional investors.

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.