Rocket Lab USA (NASDAQ:RKLB) Shares Down 6.2% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares fell 6.2% on Monday . The stock traded as low as $24.90 and last traded at $25.54. 6,586,820 shares were traded during mid-day trading, a decline of 46% from the average session volume of 12,246,846 shares. The stock had previously closed at $27.22.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RKLB. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Wells Fargo & Company upped their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. JMP Securities began coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Finally, Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Five research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Trading Down 2.2 %

The company has a 50-day moving average price of $19.72 and a 200 day moving average price of $11.13. The stock has a market capitalization of $13.30 billion, a P/E ratio of -71.92 and a beta of 1.96. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab USA

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. purchased a new stake in shares of Rocket Lab USA during the third quarter valued at $107,000. Sanctuary Advisors LLC lifted its position in Rocket Lab USA by 34.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after acquiring an additional 5,381 shares during the period. Arete Wealth Advisors LLC purchased a new stake in Rocket Lab USA during the 3rd quarter valued at about $106,000. Geode Capital Management LLC increased its holdings in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Rocket Lab USA by 22.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after purchasing an additional 41,551 shares during the period. 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.