Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Frank Klein Sells 2,546 Shares of Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 2,546 shares of Rocket Lab USA stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $30.00, for a total value of $76,380.00. Following the transaction, the insider now owns 1,365,826 shares of the company’s stock, valued at $40,974,780. The trade was a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, May 30th, Frank Klein sold 44,885 shares of Rocket Lab USA stock. The stock was sold at an average price of $26.66, for a total value of $1,196,634.10.
• On Monday, June 2nd, Frank Klein sold 1,818 shares of Rocket Lab USA stock. The shares were sold at an average price of $26.51, for a total transaction of $48,195.18.
• On Monday, June 2nd, Frank Klein sold 1,818 shares of Rocket Lab USA stock. The stock was sold at an average price of $26.51, for a total transaction of $48,195.18.
• On Wednesday, May 28th, Frank Klein sold 2,569 shares of Rocket Lab USA stock. The shares were sold at an average price of $29.97, for a total value of $76,992.93.
• 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.
• 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 value of $809,973.54.

Rocket Lab USA Trading Down 8.3%

RKLB opened at $27.17 on Wednesday. The stock has a market capitalization of $12.32 billion, a PE ratio of -73.43 and a beta of 2.08. Rocket Lab USA, Inc. has a one year low of $4.20 and a one year 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 business’s 50 day moving average price is $22.98 and its 200 day moving average price is $23.75.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $122.57 million during the quarter, compared to analysts’ expectations of $120.74 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. Rocket Lab USA’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of recent research reports. KeyCorp reiterated an “overweight” rating on shares of Rocket Lab USA in a research report on Tuesday, June 3rd. Citigroup cut their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus upped their price target on Rocket Lab USA from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus price target of $26.18.

Institutional Trading of Rocket Lab USA

Institutional investors have recently added to or reduced their stakes in the stock. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA during the fourth quarter worth $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA in the fourth quarter valued at $26,000. Versant Capital Management Inc boosted its holdings in Rocket Lab USA by 118.1% in the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new position in Rocket Lab USA during the 1st quarter worth $29,000. Finally, Farther Finance Advisors LLC increased its holdings in Rocket Lab USA by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock worth $35,000 after purchasing an additional 1,226 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.