Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 2.6% – What’s Next?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s share price fell 2.6% during trading on Monday . The stock traded as low as $23.94 and last traded at $24.00. 14,031,539 shares changed hands during trading, a decline of 6% from the average session volume of 14,879,312 shares. The stock had previously closed at $24.64.

Analyst Ratings Changes

A number of analysts recently weighed in on RKLB shares. KeyCorp upped their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Cantor Fitzgerald raised their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company increased their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Five equities research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.61.

Rocket Lab USA Stock Down 2.6 %

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 business’s fifty day moving average price is $24.05 and its two-hundred day moving average price is $13.38. The stock has a market capitalization of $12.00 billion, a PE ratio of -64.86 and a beta of 1.98.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the firm’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 completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors have recently modified their holdings of the stock. Avior Wealth Management LLC grew its holdings in Rocket Lab USA by 478.6% during the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock worth $177,000 after acquiring an additional 5,762 shares during the period. Nisa Investment Advisors LLC boosted its position in Rocket Lab USA by 134.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer’s stock worth $237,000 after purchasing an additional 5,325 shares in the last quarter. Ariose Capital Management Ltd acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $1,871,000. Udine Wealth Management Inc. purchased a new position in shares of Rocket Lab USA during the 4th quarter valued at approximately $1,342,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Rocket Lab USA by 3.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer’s stock valued at $2,340,000 after purchasing an additional 3,479 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.