Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Sells $809,973.54 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 44,553 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the sale, the insider now owns 1,419,479 shares in the company, valued at $25,806,128.22. The trade was a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Frank Klein also recently made the following trade(s):

• On Monday, March 17th, Frank Klein sold 1,835 shares of Rocket Lab USA stock. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55.

Rocket Lab USA Trading Down 1.3 %

Shares of Rocket Lab USA stock opened at $18.53 on Friday. The company’s fifty day moving average is $24.36 and its two-hundred day moving average is $19.01. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a market capitalization of $8.40 billion, a P/E ratio of -50.08 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on RKLB shares. Citigroup decreased their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Wells Fargo & Company dropped their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus boosted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, KeyCorp dropped their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently modified their holdings of the stock. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA in the 4th quarter valued at $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the fourth quarter worth about $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the fourth quarter worth about $48,000. Finally, NewEdge Advisors LLC raised its holdings in Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after purchasing an additional 1,750 shares in the last quarter. 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.