Arjun Kampani Sells 5,277 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) insider Arjun Kampani sold 5,277 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $29.97, for a total transaction of $158,151.69. Following the transaction, the insider now directly owns 569,606 shares of the company's stock, valued at approximately $17,071,091.82. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rocket Lab USA Trading Down 2.6%

Shares of RKLB traded down $0.70 during mid-day trading on Friday, reaching $26.65. The company had a trading volume of 12,664,618 shares, compared to its average volume of 16,338,452. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of -72.03 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 $23.37. Rocket Lab USA, Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $33.34. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) EPS. On average, sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RKLB. Roth Capital raised their target price on shares of Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley raised their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday. KeyCorp decreased their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company decreased their target price 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 investment 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.18.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Rocket Lab USA by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock valued at $715,728,000 after acquiring an additional 3,833,969 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rocket Lab USA by 0.4% during 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 acquiring an additional 32,658 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Rocket Lab USA by 56.1% during the 1st quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer's stock valued at $66,840,000 after acquiring an additional 1,343,518 shares in the last quarter. FMR LLC lifted its holdings in shares of Rocket Lab USA by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Rocket Lab USA by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock valued at $82,207,000 after acquiring an additional 281,339 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

About Rocket Lab USA

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.