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

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 %

Shares of 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 market capitalization of $8.15 billion, a P/E ratio of -48.59 and a beta of 2.06. The company has a 50-day simple moving average of $24.71 and a 200 day simple moving average of $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.

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

Analyst Ratings Changes

A number of analysts recently commented on RKLB shares. The Goldman Sachs Group upped their price objective 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 lowered their price objective 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. Wells Fargo & Company lowered their price objective 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. Citigroup reduced their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley upped their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the fourth quarter worth approximately $25,000. Sandy Spring Bank bought a new position in shares of Rocket Lab USA during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Rocket Lab USA during the fourth quarter worth approximately $40,000. Quarry LP bought a new position in shares of Rocket Lab USA during the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Rocket Lab USA by 1,000.0% during the fourth 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 institutional investors.

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.