Rocket Lab USA (NASDAQ:RKLB) Shares Gap Down – Time to Sell?

Rocket Lab USA, Inc. (NASDAQ:RKLB)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $23.22, but opened at $22.14. Rocket Lab USA shares last traded at $22.77, with a volume of 2,542,774 shares traded.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RKLB shares. Cantor Fitzgerald lifted their target price 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. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Thursday. JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. Wells Fargo & Company lifted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. 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 company. According to data from MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Stock Up 7.1 %

The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of -67.21 and a beta of 1.96. 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 has a fifty day moving average price of $18.08 and a two-hundred day moving average price of $10.30.

Insider Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the 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 sale, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC lifted its stake in Rocket Lab USA by 6.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after buying an additional 391,778 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Rocket Lab USA by 54.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the rocket manufacturer’s stock valued at $282,000 after purchasing an additional 20,636 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Rocket Lab USA during the second quarter worth about $95,000. Principal Financial Group Inc. raised its stake in Rocket Lab USA by 23.4% during the second quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock worth $226,000 after purchasing an additional 8,928 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Rocket Lab USA in the 2nd quarter valued at approximately $46,000. 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.