By otakuyassine3@gmail.com 
Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Free Report) shares dropped 3.5% on Friday . The company traded as low as $26.80 and last traded at $27.45. Approximately 8,039,126 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 12,239,016 shares. The stock had previously closed at $28.44.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on RKLB. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald raised their price target 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. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average price target of $17.44.
View Our Latest Analysis on RKLB
Rocket Lab USA Trading Down 4.4 %
The firm has a market cap of $13.59 billion, a P/E ratio of -73.46 and a beta of 1.96. 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 company’s fifty day moving average price is $19.39 and its two-hundred day moving average price is $10.88.
Insider Activity
In related news, insider Frank Klein sold 35,968 shares of the company’s 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 transaction, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company’s stock.
Institutional Trading of Rocket Lab USA
Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after buying an additional 532,207 shares during the period. American Century Companies Inc. boosted its stake in Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares during the period. Ieq Capital LLC bought a new stake in shares of Rocket Lab USA in the second quarter valued at about $5,469,000. Finally, Mizuho Markets Americas LLC acquired a new position in Rocket Lab USA during the 3rd quarter worth approximately $8,930,000. 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.
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