Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Sells 2,546 Shares of Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) insider Frank Klein sold 2,546 shares of Rocket Lab USA stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $76,380.00. Following the sale, the insider now directly owns 1,365,826 shares in the company, valued at approximately $40,974,780. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Frank Klein also recently made the following trade(s):

• On Friday, May 30th, Frank Klein sold 44,885 shares of Rocket Lab USA stock. The shares were sold at an average price of $26.66, for a total transaction of $1,196,634.10.
• On Monday, June 2nd, Frank Klein sold 1,818 shares of Rocket Lab USA stock. The stock was sold at an average price of $26.51, for a total transaction of $48,195.18.
• On Monday, June 2nd, Frank Klein sold 1,818 shares of Rocket Lab USA stock. The shares were sold at an average price of $26.51, for a total transaction of $48,195.18.
• On Wednesday, May 28th, Frank Klein sold 2,569 shares of Rocket Lab USA stock. The stock was sold at an average price of $29.97, for a total transaction of $76,992.93.
• On Monday, March 17th, Frank Klein sold 1,835 shares of Rocket Lab USA stock. The shares were sold at an average price of $19.93, for a total value of $36,571.55.
• 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 value of $809,973.54.

Rocket Lab USA Trading Up 0.7%

Rocket Lab USA stock traded up $0.19 during trading hours on Wednesday, reaching $27.36. 21,234,679 shares of the company's stock traded hands, compared to its average volume of 17,011,983. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of -73.94 and a beta of 2.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $33.34. The firm's 50 day moving average is $23.20 and its 200-day moving average is $23.77.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The company's quarterly revenue was up 32.1% on a year-over-year basis. On average, analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RKLB. Citigroup lowered their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. KeyCorp restated an "overweight" rating on shares of Rocket Lab USA in a research note on Tuesday, June 3rd. Roth Capital increased 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, May 28th. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Finally, Cantor Fitzgerald boosted their price target on shares of Rocket Lab USA from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Tuesday. Five investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $26.18.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Shields & Co. LLC lifted its stake in Rocket Lab USA by 0.5% in the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock valued at $1,898,000 after buying an additional 383 shares during the period. Allworth Financial LP raised its position in shares of Rocket Lab USA by 4.0% in the 1st quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer's stock valued at $213,000 after acquiring an additional 458 shares during the period. Atria Wealth Solutions Inc. boosted its stake in Rocket Lab USA by 1.4% during the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock worth $627,000 after acquiring an additional 500 shares during the last quarter. Signaturefd LLC grew its holdings in Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after purchasing an additional 653 shares during the period. Finally, Focus Partners Wealth increased its stake in Rocket Lab USA by 1.0% in the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer's stock valued at $1,206,000 after purchasing an additional 681 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.