Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Sells 1,835 Shares of Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 1,835 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, March 14th, Frank Klein sold 44,553 shares of Rocket Lab USA stock. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54.

Rocket Lab USA Trading Down 5.9 %

Rocket Lab USA stock traded down $1.12 during midday trading on Tuesday, hitting $17.98. 9,747,041 shares of the stock were exchanged, compared to its average volume of 14,446,398. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of -48.59 and a beta of 2.06. The stock’s 50-day simple moving average is $24.71 and its 200 day simple moving average is $19.01. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data 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 return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. On average, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Morgan Stanley raised their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Wells Fargo & Company decreased 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. Finally, Citigroup decreased their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently made changes to their positions in RKLB. GSA Capital Partners LLP acquired a new stake in shares of Rocket Lab USA during the third quarter valued at about $139,000. Victory Capital Management Inc. grew its holdings in shares of Rocket Lab USA by 4.4% in the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after purchasing an additional 1,709 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Rocket Lab USA in the third quarter valued at approximately $128,000. Advisors Asset Management Inc. grew its holdings in shares of Rocket Lab USA by 28.7% in the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after purchasing an additional 3,220 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Rocket Lab USA in the third quarter valued at approximately $921,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.