Rocket Lab (NASDAQ:RKLB) Stock Price Down 8.5% – Time to Sell?

Rocket Lab Corporation (NASDAQ:RKLB)’s share price was down 8.5% during mid-day trading on Friday . The stock traded as low as $70.39 and last traded at $70.65. Approximately 22,790,716 shares were traded during trading, an increase of 8% from the average daily volume of 21,109,352 shares. The stock had previously closed at $77.18.

Analyst Upgrades and Downgrades

RKLB has been the topic of several research reports. Stifel Nicolaus lifted their price objective on shares of Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. Baird R W raised shares of Rocket Lab to a “strong-buy” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a report on Wednesday, October 8th. Roth Capital reissued a “buy” rating and issued a $75.00 target price on shares of Rocket Lab in a research report on Tuesday, November 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.25.

Rocket Lab Trading Down 8.5%

The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $37.74 billion, a P/E ratio of -185.92 and a beta of 2.20. The firm’s 50-day simple moving average is $55.27 and its 200-day simple moving average is $48.43.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The firm had revenue of $155.08 million for the quarter, compared to analysts’ expectations of $152.45 million. During the same quarter last year, the company posted ($0.10) EPS. The business’s quarterly revenue was up 48.0% on a year-over-year basis. Analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Transactions at Rocket Lab

In other Rocket Lab news, Director Nina Armagno sold 27,314 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $68.21, for a total transaction of $1,863,087.94. Following the completion of the sale, the director owned 108,940 shares of the company’s stock, valued at $7,430,797.40. This represents a 20.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frank Klein sold 4,736 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $42.08, for a total value of $199,290.88. Following the transaction, the insider directly owned 1,269,487 shares in the company, valued at $53,420,012.96. This trade represents a 0.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,729,485 shares of company stock valued at $151,832,870. Insiders own 11.90% of the company’s stock.

Institutional Trading of Rocket Lab

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Rocket Lab by 5.4% during the third quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock valued at $2,003,104,000 after purchasing an additional 2,127,565 shares in the last quarter. Capital World Investors increased its stake in shares of Rocket Lab by 9.4% during the third quarter. Capital World Investors now owns 14,462,103 shares of the rocket manufacturer’s stock valued at $692,879,000 after purchasing an additional 1,242,547 shares in the last quarter. State Street Corp lifted its holdings in shares of Rocket Lab by 13.6% during the third quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer’s stock valued at $594,063,000 after purchasing an additional 1,487,237 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Rocket Lab by 176.1% in the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after purchasing an additional 7,734,788 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Rocket Lab by 67.0% in the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after buying an additional 2,504,054 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.