Rocket Lab USA (NASDAQ:RKLB) Shares Down 10% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares traded down 10% during trading on Friday . The company traded as low as $15.00 and last traded at $16.10. 9,984,259 shares changed hands during trading, a decline of 32% from the average session volume of 14,789,016 shares. The stock had previously closed at $17.89.

Analysts Set New Price Targets

Several analysts have weighed in on RKLB shares. Wells Fargo & Company dropped their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley upped their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Citigroup reduced their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Five investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Performance

The stock has a 50-day moving average of $22.57 and a 200 day moving average of $20.03. The stock has a market cap of $7.42 billion, a PE ratio of -44.24 and a beta of 2.08. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Equities analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC raised its stake in shares of Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after acquiring an additional 334 shares during the period. Wellington Shields & Co. LLC raised its position in Rocket Lab USA by 0.5% in the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock valued at $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC lifted its stake in Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after purchasing an additional 653 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Rocket Lab USA by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock worth $554,000 after buying an additional 696 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Rocket Lab USA by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after buying an additional 746 shares during the period. Hedge funds and other 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.