Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Frank Klein Sells 35,968 Shares

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 35,968 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Rocket Lab USA Trading Up 0.9 %

Shares of Rocket Lab USA stock traded up $0.23 on Wednesday, reaching $25.67. 26,547,281 shares of the company’s stock were exchanged, compared to its average volume of 11,610,826. The company has a market capitalization of $12.83 billion, a P/E ratio of -67.54 and a beta of 1.29. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $27.20. The firm’s 50-day moving average is $12.52 and its two-hundred day moving average is $7.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its position in Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 8,992 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $46,000. Baxter Bros Inc. purchased a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $48,000. Smith Anglin Financial LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter valued at $104,000. Finally, Advisors Asset Management Inc. increased its position in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RKLB shares. Citigroup upped their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. KeyCorp upped their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Bank of America upped their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JMP Securities assumed coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Finally, Wells Fargo & Company increased their target price on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.50.

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.