Frank Klein Sells 1,835 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 5.9 %

RKLB opened at $17.98 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average price of $24.71 and a two-hundred day moving average price of $19.01. The company has a market cap of $8.15 billion, a P/E ratio of -48.59 and a beta of 2.06. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate 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 business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

RKLB has been the topic of a number of research analyst reports. KeyCorp cut 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 research report on Friday, February 28th. Citigroup cut their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company cut their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Stifel Nicolaus lifted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA in the fourth quarter valued at about $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA during the 4th quarter valued at approximately $40,000. Quarry LP purchased a new stake in shares of Rocket Lab USA during the 4th quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC lifted its stake 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 valued at $49,000 after buying an additional 1,750 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other 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.