Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 2.5% – Should You Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price was down 2.5% on Tuesday . The stock traded as low as $9.48 and last traded at $9.63. Approximately 3,629,500 shares changed hands during trading, a decline of 63% from the average daily volume of 9,682,738 shares. The stock had previously closed at $9.88.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RKLB shares. JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $8.00 to $6.00 in a report on Monday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a report on Monday, September 30th. KeyCorp lifted their price objective on Rocket Lab USA from $8.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Citigroup lifted their price objective on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Rocket Lab USA has a consensus rating of “Hold” and a consensus target price of $6.75.

Rocket Lab USA Price Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The company has a market cap of $5.30 billion, a price-to-earnings ratio of -30.23 and a beta of 1.32. The business has a fifty day moving average price of $7.46 and a 200 day moving average price of $5.51.

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

Insider Buying and Selling

In related news, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the sale, the director now owns 42,353 shares in the company, valued at $292,235.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock worth $906,059 in the last 90 days. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Rocket Lab USA by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock valued at $156,000 after purchasing an additional 5,838 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Rocket Lab USA by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after purchasing an additional 26,605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Rocket Lab USA by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer’s stock valued at $1,209,000 after purchasing an additional 6,534 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Rocket Lab USA by 15.7% in the 1st 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 during the period. 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.