Rocket Lab (NASDAQ:RKLB) Shares Down 2% – Time to Sell?

Rocket Lab Corporation (NASDAQ:RKLB)’s share price fell 2% during trading on Wednesday . The stock traded as low as $73.99 and last traded at $77.02. 17,525,243 shares changed hands during trading, a decline of 23% from the average session volume of 22,663,838 shares. The stock had previously closed at $78.59.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: High-profile endorsement: Jim Cramer said on Mad Money that “I think that Rocket Lab is a winner,” a bullish retail-media signal that can drive short-term buying interest and confidence among long-term holders. Jim Cramer Says “I Think That Rocket Lab Is a Winner”
• Positive Sentiment: Echoed coverage: Independent financial sites republished Cramer’s comments, reinforcing the same bullish narrative and broadening reach to investors who follow newsletters and aggregation sites. Jim Cramer Says “I Think That Rocket Lab Is a Winner” (InsiderMonkey)
• Neutral Sentiment: Sector product development (possible competitive context): Planet Labs and Carbon Mapper announced a specialized Tanager spacecraft for shortwave infrared (SWIR) imaging — a development in the small-sat remote-sensing market that could affect demand dynamics for satellite platforms and data services but does not directly announce business with or against Rocket Lab. Monitor whether this spurs new customer spending or demand for launch and spacecraft buses. Planet Labs & Carbon Mapper To Develop Specialized Tanager Spacecraft

Analyst Upgrades and Downgrades

RKLB has been the subject of several recent analyst reports. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Citizens Jmp raised Rocket Lab from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Tuesday, April 7th. TD Cowen restated a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. The Goldman Sachs Group raised their target price on Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Finally, Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.31.

Rocket Lab Price Performance

The stock has a 50-day simple moving average of $72.26 and a 200-day simple moving average of $68.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61.

Insider Buying and Selling

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the sale, the chief financial officer directly owned 1,296,824 shares of the company’s stock, valued at $90,245,982.16. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Arjun Kampani sold 23,711 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total transaction of $1,706,006.45. Following the transaction, the senior vice president owned 397,988 shares of the company’s stock, valued at $28,635,236.60. This represents a 5.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 233,449 shares of company stock worth $16,487,233 in the last quarter. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System grew its position in Rocket Lab by 13.6% during the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock valued at $6,123,000 after acquiring an additional 15,307 shares during the last quarter. Firsthand Capital Management Inc. lifted its holdings in shares of Rocket Lab by 40.0% in the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock worth $3,354,000 after acquiring an additional 20,000 shares during the last quarter. Swiss National Bank boosted its stake in shares of Rocket Lab by 67.7% in the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock valued at $59,582,000 after purchasing an additional 501,830 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Rocket Lab by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock valued at $3,308,033,000 after purchasing an additional 5,610,469 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Rocket Lab by 14.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer’s stock valued at $7,335,000 after purchasing an additional 19,304 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.