Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 1.5% – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price dropped 1.5% on Thursday . The stock traded as low as $19.42 and last traded at $19.67. Approximately 4,270,431 shares changed hands during trading, a decline of 72% from the average daily volume of 15,213,335 shares. The stock had previously closed at $19.98.

Analysts Set New Price Targets

RKLB has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. KeyCorp cut their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Citigroup lowered their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.72.

Rocket Lab USA Stock Down 0.6 %

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 firm has a market cap of $9.01 billion, a price-to-earnings ratio of -53.53 and a beta of 2.08. The business has a fifty day simple moving average of $20.71 and a 200 day simple moving average of $20.64.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share 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 business had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. As a group, equities analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Frank Klein sold 44,553 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the sale, the insider now directly owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RKLB. Geode Capital Management LLC raised its holdings in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares during the period. Franklin Resources Inc. purchased a new stake in Rocket Lab USA in the third quarter valued at approximately $107,000. Udine Wealth Management Inc. purchased a new position in shares of Rocket Lab USA during the fourth quarter worth $1,342,000. Van ECK Associates Corp grew its stake in shares of Rocket Lab USA by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer’s stock valued at $4,237,000 after buying an additional 35,293 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its holdings in Rocket Lab USA by 66.7% during the 4th quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer’s stock valued at $637,000 after acquiring an additional 10,000 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.