Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Frank Klein Sells 44,553 Shares

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 44,553 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. The trade was a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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.

Rocket Lab USA Stock Down 5.9 %

Rocket Lab USA stock traded down $1.12 during trading on Tuesday, reaching $17.98. The stock had a trading volume of 9,747,041 shares, compared to its average volume of 14,446,398. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The business has a 50 day moving average price of $24.71 and a 200 day moving average price of $19.01. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8.15 billion, a PE ratio of -48.59 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. On average, analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

RKLB has been the subject of a number of recent analyst reports. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Wells Fargo & Company dropped their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. KeyCorp dropped their price target on shares of 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, Stifel Nicolaus lifted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA in the fourth quarter worth approximately $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $40,000. Quarry LP purchased a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC lifted its position in shares of Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after buying an additional 1,750 shares during the last quarter. Hedge funds and other institutional investors 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.