Rocket Lab USA (NASDAQ:RKLB) Shares Down 2.2% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares dropped 2.2% on Tuesday . The stock traded as low as $10.97 and last traded at $11.01. Approximately 2,440,284 shares changed hands during trading, a decline of 75% from the average daily volume of 9,859,770 shares. The stock had previously closed at $11.26.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RKLB. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Citigroup boosted their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 30th. Finally, KeyCorp increased their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.89.

Rocket Lab USA Stock Up 2.1 %

The stock has a market cap of $5.71 billion, a P/E ratio of -32.11 and a beta of 1.32. The firm has a 50 day simple moving average of $8.32 and a 200-day simple moving average of $5.93. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The company’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) earnings per share. On average, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now owns 42,353 shares in the company, valued at $292,235.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock valued at $906,059 in the last three months. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Rocket Lab USA by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer’s stock valued at $146,831,000 after buying an additional 451,370 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Rocket Lab USA by 196.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 65,014 shares of the rocket manufacturer’s stock valued at $267,000 after acquiring an additional 43,095 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Rocket Lab USA by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock valued at $6,950,000 after purchasing an additional 229,512 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Rocket Lab USA by 18.1% during the first quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock worth $156,000 after purchasing an additional 5,838 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Rocket Lab USA in the 1st quarter valued at $192,000. 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.