Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Sells 28,563 Shares of Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rocket Lab USA Price Performance

Rocket Lab USA stock traded down $0.22 during trading hours on Monday, hitting $6.74. 13,334,486 shares of the company traded hands, compared to its average volume of 9,015,658. The firm has a market cap of $3.35 billion, a P/E ratio of -18.22 and a beta of 1.25. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. The firm’s 50-day simple moving average is $5.32 and its two-hundred day simple moving average is $4.59. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $7.36.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The business’s revenue was up 71.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, analysts forecast that Rocket Lab USA, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RKLB shares. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 target price on shares of Rocket Lab USA in a research note on Monday, July 22nd. BTIG Research began coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They issued a “neutral” rating for the company. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. Citigroup lifted their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group assumed coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price target for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.75.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently made changes to their positions in the business. Raymond James & Associates grew its stake in shares of Rocket Lab USA by 10.3% in the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock worth $121,000 after purchasing an additional 2,040 shares during the last quarter. Cerity Partners LLC increased its position in shares of Rocket Lab USA by 14.5% in the fourth quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock worth $97,000 after acquiring an additional 2,230 shares in the last quarter. Wellington Shields & Co. LLC increased 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 worth $332,000 after acquiring an additional 2,503 shares in the last quarter. Amalgamated Bank increased its position 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 in the last quarter. Finally, 180 Wealth Advisors LLC increased its position in shares of Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after acquiring an additional 2,807 shares in the last quarter. 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.