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 business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at the SEC website.

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 value of $36,571.55.

Rocket Lab USA Stock Up 4.4 %

Shares of RKLB opened at $18.78 on Thursday. The firm has a market cap of $8.52 billion, a P/E ratio of -50.76 and a beta of 2.06. 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, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. The firm’s 50-day simple moving average is $24.54 and its 200 day simple moving average is $19.01.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RKLB shares. KeyCorp decreased their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Wells Fargo & Company lowered their target price 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. Citigroup cut their price target 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, TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. 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. According to data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in shares of Rocket Lab USA by 0.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after acquiring an additional 334 shares in the last quarter. Wellington Shields & Co. LLC boosted its holdings in Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock valued at $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC increased its holdings in shares of Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after purchasing an additional 653 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Rocket Lab USA by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock valued at $554,000 after buying an additional 696 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Rocket Lab USA by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock valued at $384,000 after buying an additional 746 shares during the period. Institutional investors 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.