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

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the transaction, the insider now directly owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 Price Performance

NASDAQ:RKLB opened at $17.98 on Wednesday. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. 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 firm’s 50-day simple moving average is $24.71 and its 200 day simple moving average is $19.01. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of -48.59 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last announced 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). The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. As a group, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA in the 4th quarter valued at about $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA in the fourth quarter valued at approximately $40,000. Quarry LP bought a new stake in Rocket Lab USA during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Rocket Lab USA by 1,000.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after purchasing an additional 1,750 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stifel Nicolaus upped their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group increased their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price objective on shares of 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. Citigroup dropped their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

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.