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

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were 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 approximately $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Rocket Lab USA Trading Up 0.9 %

NASDAQ RKLB opened at $25.67 on Thursday. The company’s 50-day simple moving average is $12.89 and its two-hundred day simple moving average is $7.93. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $27.20. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of -69.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Analysts Set New Price Targets

RKLB has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus lifted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities started coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Citigroup upped their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently bought and sold shares of RKLB. Vanguard Group Inc. boosted its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after acquiring an additional 2,448,789 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter worth $8,930,000. International Assets Investment Management LLC boosted its position in Rocket Lab USA by 934.5% during the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock valued at $10,090,000 after purchasing an additional 88,686 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Rocket Lab USA by 40.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after purchasing an additional 26,605 shares during the last quarter. Finally, Venture Visionary Partners LLC purchased a new position in Rocket Lab USA in the third quarter valued at about $886,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.