Arjun Kampani Sells 5,194 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) insider Arjun Kampani sold 5,194 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $26.52, for a total value of $137,744.88. Following the completion of the sale, the insider now directly owns 535,424 shares of the company's stock, valued at approximately $14,199,444.48. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Arjun Kampani also recently made the following trade(s):

• On Friday, May 30th, Arjun Kampani sold 28,988 shares of Rocket Lab USA stock. The shares were sold at an average price of $26.66, for a total value of $772,820.08.
• On Wednesday, May 28th, Arjun Kampani sold 5,277 shares of Rocket Lab USA stock. The shares were sold at an average price of $29.97, for a total value of $158,151.69.

Rocket Lab USA Stock Performance

Shares of RKLB traded down $0.38 during trading hours on Thursday, hitting $26.53. The company's stock had a trading volume of 10,194,689 shares, compared to its average volume of 16,394,540. The company has a market cap of $12.03 billion, a price-to-earnings ratio of -70.97 and a beta of 2.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The business has a 50 day simple moving average of $22.20 and a two-hundred day simple moving average of $23.54. Rocket Lab USA, Inc. has a 52-week low of $4.20 and a 52-week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $122.57 million during the quarter, compared to analysts' expectations of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Rocket Lab USA's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. On average, equities analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RKLB has been the subject of a number of research analyst reports. Needham & Company LLC increased their price target on Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Citigroup decreased their price target on 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. Roth Capital increased their price target on Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Morgan Stanley increased their price target on 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, The Goldman Sachs Group increased their price target on Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.18.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently made changes to their positions in the stock. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab USA in the fourth quarter valued at $25,000. Sandy Spring Bank purchased a new position in shares of Rocket Lab USA in the fourth quarter valued at $26,000. Versant Capital Management Inc grew its position in shares of Rocket Lab USA by 118.1% in the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Rocket Lab USA in the first quarter valued at $29,000. Finally, Farther Finance Advisors LLC grew its position in shares of Rocket Lab USA by 181.1% in the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after purchasing an additional 1,226 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.