Frank Klein Sells 1,818 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) insider Frank Klein sold 1,818 shares of Rocket Lab USA stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.51, for a total transaction of $48,195.18. Following the sale, the insider now owns 1,368,372 shares of the company's stock, valued at approximately $36,275,541.72. The trade was a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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 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 stock was sold at an average price of $18.18, for a total value of $809,973.54.

Rocket Lab USA Trading Down 1.4%

RKLB traded down $0.38 during midday trading on Thursday, reaching $26.53. 10,194,689 shares of the company's stock traded hands, compared to its average volume of 16,394,540. The firm has a fifty day moving average of $22.20 and a two-hundred day moving average of $23.54. The stock has a market capitalization 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. 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 released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The business had revenue of $122.57 million for the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. On average, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RKLB. Needham & Company LLC upped their price objective on Rocket Lab USA from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. Roth Capital upped their price objective on Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wells Fargo & Company lowered their target price on 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. Finally, Stifel Nicolaus boosted their target price on Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Five 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA during the 4th quarter valued at approximately $25,000. Sandy Spring Bank bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $26,000. Versant Capital Management Inc grew its stake in 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 worth $28,000 after purchasing an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB bought a new position in Rocket Lab USA in the first quarter worth $29,000. Finally, Farther Finance Advisors LLC raised its holdings in 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 worth $35,000 after purchasing an additional 1,226 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Rocket Lab USA Company Profile

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.