Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Sells $1,196,634.10 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) insider Frank Klein sold 44,885 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $26.66, for a total value of $1,196,634.10. Following the transaction, the insider now directly owns 1,370,190 shares of the company's stock, valued at approximately $36,529,265.40. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 stock was 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 shares were sold at an average price of $29.97, for a total value of $76,992.93.
• On Monday, March 17th, Frank Klein sold 1,835 shares of Rocket Lab USA stock. The stock was 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 shares were sold at an average price of $18.18, for a total value of $809,973.54.

Rocket Lab USA Trading Down 1.7%

NASDAQ RKLB traded down $0.46 during trading hours on Thursday, reaching $26.45. The company's stock had a trading volume of 27,660,538 shares, compared to its average volume of 16,460,885. The firm has a fifty day simple moving average of $22.20 and a 200-day simple moving average of $23.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 52 week low of $4.20 and a 52 week high of $33.34. The stock has a market cap of $12.00 billion, a P/E ratio of -71.48 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. Rocket Lab USA's revenue was up 32.1% compared to the same quarter last year. Equities analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RKLB. Needham & Company LLC raised their price objective on shares of Rocket Lab USA from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. 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 report on Friday, February 28th. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Wells Fargo & Company lowered their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Roth Capital raised their price objective on Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Spectrum Wealth Counsel LLC acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at about $25,000. Sandy Spring Bank bought a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $26,000. Versant Capital Management Inc grew its holdings in Rocket Lab USA by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after buying an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in Rocket Lab USA in the 1st quarter valued at $29,000. Finally, Farther Finance Advisors LLC lifted its stake in Rocket Lab USA by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after acquiring an additional 1,226 shares in the last quarter. 71.78% of the stock is owned by 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.