Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Sells $76,992.93 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) insider Frank Klein sold 2,569 shares of the company'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 $76,992.93. Following the completion of the sale, the insider now directly owns 1,415,075 shares of the company's stock, valued at approximately $42,409,797.75. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $36,571.55.
• On Friday, March 14th, Frank Klein sold 44,553 shares of Rocket Lab USA stock. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54.

Rocket Lab USA Trading Down 2.6%

Shares of NASDAQ:RKLB traded down $0.70 during mid-day trading on Friday, hitting $26.65. The stock had a trading volume of 12,664,618 shares, compared to its average volume of 16,338,452. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a market cap of $12.09 billion, a PE ratio of -72.03 and a beta of 2.04. Rocket Lab USA, Inc. has a 12-month low of $4.20 and a 12-month high of $33.34. The company's 50 day moving average is $21.73 and its 200-day moving average is $23.37.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly 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). The firm had revenue of $122.57 million during the quarter, compared to analysts' expectations 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 was up 32.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.09) EPS. On average, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on RKLB. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Citigroup cut their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley increased their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Rocket Lab USA presently has an average rating of "Moderate Buy" and an average target price of $25.18.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA in the 4th quarter valued at approximately $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA in the 4th quarter valued at approximately $40,000. Versant Capital Management Inc increased its stake in Rocket Lab USA by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after buying an additional 860 shares during the period. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in Rocket Lab USA in the 1st quarter valued at approximately $29,000. 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.