Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Frank Klein Sells 1,835 Shares

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 1,835 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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 Stock Performance

Rocket Lab USA stock opened at $18.78 on Thursday. The stock has a market cap of $8.52 billion, a P/E ratio of -50.76 and a beta of 2.06. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $24.54 and a 200-day moving average of $19.01. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Hedge Funds 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 position in Rocket Lab USA during the fourth quarter worth $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA during the fourth quarter worth $40,000. Quarry LP bought a new position in Rocket Lab USA during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC lifted 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 purchasing an additional 1,750 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Stifel Nicolaus increased their target price 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. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Morgan Stanley increased their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Citigroup lowered their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average target price of $23.06.

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.