Rocket Lab USA (NASDAQ:RKLB) Trading Down 0.8% – Here’s What Happened

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price fell 0.8% on Wednesday . The company traded as low as $27.85 and last traded at $28.44. 5,900,925 shares were traded during mid-day trading, a decline of 70% from the average session volume of 19,542,783 shares. The stock had previously closed at $28.68.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Cantor Fitzgerald boosted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Wells Fargo & Company boosted 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 report on Wednesday, December 11th. Finally, Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Trading Down 1.0 %

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 stock has a market capitalization of $13.70 billion, a PE ratio of -74.08 and a beta of 1.99. The stock’s 50 day simple moving average is $26.32 and its two-hundred day simple moving average is $15.57.

Insider Activity at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,124,530 shares of company stock worth $38,404,700. 13.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rocket Lab USA by 2.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,199 shares of the rocket manufacturer’s stock valued at $1,533,000 after buying an additional 1,509 shares during the period. AlphaQuest LLC purchased a new stake in shares of Rocket Lab USA in the 4th quarter worth about $52,000. Larson Financial Group LLC lifted its position in shares of Rocket Lab USA by 682.8% in the 4th quarter. Larson Financial Group LLC now owns 2,270 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 1,980 shares during the period. Intellectus Partners LLC lifted its position in shares of Rocket Lab USA by 4.0% in the 4th quarter. Intellectus Partners LLC now owns 79,875 shares of the rocket manufacturer’s stock worth $2,034,000 after purchasing an additional 3,050 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Rocket Lab USA by 1,602.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,971 shares of the rocket manufacturer’s stock worth $432,000 after purchasing an additional 15,974 shares during the period. 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.