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

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 44,553 shares of the stock in a transaction on 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 directly owns 1,419,479 shares in the company, valued at $25,806,128.22. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 stock was sold at an average price of $19.93, for a total transaction of $36,571.55.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB traded down $1.12 during midday trading on Tuesday, hitting $17.98. The company’s stock had a trading volume of 9,747,041 shares, compared to its average volume of 14,446,398. The business’s 50 day simple moving average is $24.71 and its 200 day simple moving average is $19.01. 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 $8.15 billion, a P/E ratio of -48.59 and a beta of 2.06. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million during 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, analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Rocket Lab USA by 7.1% during the fourth quarter. California State Teachers Retirement System now owns 303,732 shares of the rocket manufacturer’s stock worth $7,736,000 after purchasing an additional 20,241 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth about $5,334,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Rocket Lab USA during the fourth quarter worth about $4,134,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Rocket Lab USA during the fourth quarter worth about $84,000. Finally, Sunbelt Securities Inc. increased its position in Rocket Lab USA by 911.9% during the fourth quarter. Sunbelt Securities Inc. now owns 5,717 shares of the rocket manufacturer’s stock worth $150,000 after purchasing an additional 5,152 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of recent analyst reports. Stifel Nicolaus increased 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. Citigroup decreased 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 report on Friday, February 28th. The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. KeyCorp decreased their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Wells Fargo & Company decreased 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

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.