Rocket Lab USA, Inc. (NASDAQ:RKLB) Insider Frank Klein Sells 35,968 Shares

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rocket Lab USA Trading Up 0.9 %

Rocket Lab USA stock opened at $25.67 on Thursday. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $27.20. The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of -69.38 and a beta of 1.29. The firm has a 50 day moving average of $12.89 and a 200 day moving average of $7.93. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Analyst Upgrades and Downgrades

RKLB has been the subject of several recent analyst reports. JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Bank of America lifted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Wells Fargo & Company lifted their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Citigroup increased their price target on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Trading of Rocket Lab USA

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after buying an additional 1,709 shares during the period. Wellington Shields & Co. LLC lifted its position in shares of Rocket Lab USA by 3.8% in the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after acquiring an additional 2,503 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the period. 180 Wealth Advisors LLC grew its position in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after purchasing an additional 2,807 shares in the last quarter. Finally, Lakeridge Wealth Management LLC raised its stake in Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after purchasing an additional 3,000 shares during the period. 71.78% of the stock is owned by hedge funds and other 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.