Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares gapped down prior to trading on Monday . The stock had previously closed at $27.22, but opened at $26.22. Rocket Lab USA shares last traded at $25.17, with a volume of 4,480,128 shares trading hands.

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of research reports. Stifel Nicolaus increased their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp upped their price target on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. JMP Securities assumed coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Finally, Cantor Fitzgerald lifted their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA Price Performance

The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of -68.84 and a beta of 1.96. The company’s 50 day moving average is $20.31 and its 200-day moving average is $11.43.

Insider Activity

In related news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction dated 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 sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $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 a total of 2,114,530 shares of company stock valued at $38,168,400 over the last three months. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA in the second quarter valued at about $46,000. Amalgamated Bank boosted its holdings in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Rocket Lab USA during the 2nd quarter worth approximately $67,000. Sanctuary Advisors LLC bought a new position in shares of Rocket Lab USA during the second quarter worth approximately $76,000. Finally, National Bank of Canada FI raised its position 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 valued at $92,000 after buying an additional 10,000 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.