Rocket Lab USA (NASDAQ:RKLB) Trading Down 1.8% Following Insider Selling

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report)'s stock price was down 1.8% on Monday after an insider sold shares in the company. The stock traded as low as $25.81 and last traded at $26.31. Approximately 3,859,530 shares changed hands during trading, a decline of 76% from the average daily volume of 16,329,072 shares. The stock had previously closed at $26.79.

Specifically, insider Frank Klein sold 2,569 shares of the stock in a transaction 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 sale, the insider now owns 1,415,075 shares of the company's stock, valued at $42,409,797.75. This trade represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arjun Kampani sold 5,277 shares of Rocket Lab USA stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $29.97, for a total value of $158,151.69. Following the sale, the insider now owns 569,606 shares of the company's stock, valued at approximately $17,071,091.82. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RKLB. Morgan Stanley lifted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Stifel Nicolaus lifted their price objective on Rocket Lab USA from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. KeyCorp dropped their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, Roth Capital lifted their price objective on Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.18.

Rocket Lab USA Stock Up 0.5%

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 $12.12 billion, a PE ratio of -72.21 and a beta of 2.04. The firm has a fifty day simple moving average of $21.87 and a 200 day simple moving average of $23.49.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released 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). The firm had revenue of $122.57 million during the quarter, compared to analyst estimates 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 business's revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Shields & Co. LLC lifted its stake in shares of Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock valued at $1,898,000 after purchasing an additional 383 shares in the last quarter. Allworth Financial LP lifted its stake 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 purchasing an additional 458 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Rocket Lab USA by 1.4% in the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock valued at $627,000 after purchasing an additional 500 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after purchasing an additional 653 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in Rocket Lab USA by 1.0% during the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer's stock worth $1,206,000 after acquiring an additional 681 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

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.