Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) CFO Sells $435,083.52 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at $9,195,308.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rocket Lab USA Price Performance

RKLB opened at $6.09 on Thursday. The firm has a market cap of $3.02 billion, a PE ratio of -16.46 and a beta of 1.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $7.36. The stock has a 50-day moving average price of $5.37 and a 200-day moving average price of $4.62.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates grew its position in Rocket Lab USA by 10.3% during the fourth quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock valued at $121,000 after buying an additional 2,040 shares during the period. International Assets Investment Management LLC increased its stake in Rocket Lab USA by 453.0% in the 4th quarter. International Assets Investment Management LLC now owns 52,480 shares of the rocket manufacturer’s stock worth $290,000 after buying an additional 42,990 shares in the last quarter. Cerity Partners LLC raised its holdings in Rocket Lab USA by 14.5% during the fourth quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock valued at $97,000 after acquiring an additional 2,230 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Rocket Lab USA by 13.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,933 shares of the rocket manufacturer’s stock valued at $315,000 after acquiring an additional 6,759 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Rocket Lab USA by 61.9% in the fourth quarter. Handelsbanken Fonder AB now owns 48,400 shares of the rocket manufacturer’s stock worth $268,000 after acquiring an additional 18,500 shares during the period. Institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RKLB. Citigroup boosted their price objective on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley cut shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $8.00 to $6.00 in a research report on Monday, July 15th. Roth Mkm restated a “buy” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a report on Tuesday, June 18th. BTIG Research started coverage on Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $6.00 target price on shares of Rocket Lab USA in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.75.

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.