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 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 sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rocket Lab USA Stock Up 6.3 %

Shares of NASDAQ RKLB opened at $27.28 on Friday. The stock has a fifty day moving average price of $13.66 and a 200 day moving average price of $8.22. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $28.05. The company has a market cap of $13.64 billion, a P/E ratio of -73.73 and a beta of 1.29.

Institutional Investors Weigh In On Rocket Lab USA

Several hedge funds have recently modified their holdings of RKLB. Vanguard Group Inc. boosted its holdings in Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares during the period. Ieq Capital LLC purchased a new position in shares of Rocket Lab USA in the second quarter valued at $5,469,000. Mizuho Markets Americas LLC acquired a new stake in Rocket Lab USA during the 3rd quarter valued at $8,930,000. Geode Capital Management LLC grew its holdings in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after buying an additional 532,207 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on RKLB shares. Bank of America raised their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company boosted their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Stifel Nicolaus upped their price target on shares of 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 began coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald upped their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.