Insider Selling: 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 company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This represents a 3.04 % 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 link.

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 Stock Down 5.9 %

Rocket Lab USA stock opened at $17.98 on Wednesday. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of -48.59 and a beta of 2.06. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week 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 firm has a 50 day moving average price of $24.71 and a two-hundred day moving average price of $19.01.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $130.58 million. Equities analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RKLB shares. Citigroup dropped their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Stifel Nicolaus boosted their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Wells Fargo & Company reduced their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Five equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.06.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in the business. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA in the fourth quarter worth approximately $25,000. Sandy Spring Bank bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the 4th quarter valued at $48,000. Finally, NewEdge Advisors LLC boosted its stake 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 acquiring an additional 1,750 shares in the last quarter. 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.