Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) insider Arjun Kampani sold 5,277 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the completion of the sale, the insider now owns 569,606 shares of the company's stock, valued at approximately $17,071,091.82. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Rocket Lab USA Price Performance
RKLB stock traded down $0.19 during mid-day trading on Monday, hitting $26.60. The stock had a trading volume of 10,677,486 shares, compared to its average volume of 16,355,233. 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, Inc. has a 52 week low of $4.20 and a 52 week high of $33.34. The firm has a market capitalization of $12.06 billion, a P/E ratio of -71.89 and a beta of 2.04. The firm has a fifty day simple moving average of $21.73 and a 200 day simple moving average of $23.44.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. During the same period in the prior year, the business earned ($0.09) earnings per share. Rocket Lab USA's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, research analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.
Institutional Investors Weigh In On Rocket Lab USA
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Rocket Lab USA by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock valued at $715,728,000 after purchasing an additional 3,833,969 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock valued at $211,084,000 after purchasing an additional 32,658 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Rocket Lab USA by 56.1% in the 1st quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer's stock valued at $66,840,000 after purchasing an additional 1,343,518 shares in the last quarter. FMR LLC boosted its stake in shares of Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after purchasing an additional 3,684,195 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Rocket Lab USA by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock valued at $82,207,000 after purchasing an additional 281,339 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have commented on RKLB shares. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Stifel Nicolaus increased their price objective on shares of Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. 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. Finally, Wells Fargo & Company dropped their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rocket Lab USA presently has an average rating of "Moderate Buy" and an average target price of $25.18.
Check Out Our Latest Stock Analysis on Rocket Lab USA
Rocket Lab USA Company Profile
(
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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.
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