Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Sells $809,973.54 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This represents a 3.04 % decrease in their position. The transaction 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

RKLB stock opened at $18.53 on Friday. The business’s fifty day moving average price is $24.36 and its 200 day moving average price is $19.01. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. The company has a market capitalization of $8.40 billion, a PE ratio of -50.08 and a beta of 2.06. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

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). The business had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. On average, sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Citigroup lowered their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price objective 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. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently added to or reduced their stakes in the business. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA in the 4th quarter valued at approximately $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA during the 4th quarter worth $40,000. Quarry LP acquired a new position in Rocket Lab USA during the 4th quarter worth $48,000. Finally, NewEdge Advisors LLC increased its holdings in 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 purchasing an additional 1,750 shares during the period. 71.78% of the stock is 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.