Arjun Kampani Sells 5,194 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) insider Arjun Kampani sold 5,194 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.00, for a total transaction of $155,820.00. Following the completion of the sale, the insider now directly owns 530,230 shares in the company, valued at approximately $15,906,900. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Arjun Kampani also recently made the following trade(s):

• On Monday, June 2nd, Arjun Kampani sold 5,194 shares of Rocket Lab USA stock. The stock was sold at an average price of $26.52, for a total transaction of $137,744.88.
• On Friday, May 30th, Arjun Kampani sold 28,988 shares of Rocket Lab USA stock. The shares were sold at an average price of $26.66, for a total transaction of $772,820.08.
• On Wednesday, May 28th, Arjun Kampani sold 5,277 shares of Rocket Lab USA stock. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69.

Rocket Lab USA Price Performance

RKLB stock opened at $27.36 on Thursday. The stock has a market capitalization of $12.41 billion, a PE ratio of -73.94 and a beta of 2.08. The company’s 50-day moving average is $23.20 and its 200-day moving average is $23.77. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 1 year low of $4.20 and a 1 year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The company had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Rocket Lab USA’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. Equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Shields & Co. LLC raised its holdings in shares of Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock worth $1,898,000 after acquiring an additional 383 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Rocket Lab USA by 4.0% in the 1st quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer’s stock worth $213,000 after acquiring an additional 458 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Rocket Lab USA by 1.4% in the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer’s stock worth $627,000 after acquiring an additional 500 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after acquiring an additional 653 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Rocket Lab USA by 1.0% in the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after acquiring an additional 681 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on RKLB. Stifel Nicolaus upped their price target on shares of Rocket Lab USA from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Morgan Stanley upped their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Wells Fargo & Company cut their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Needham & Company LLC upped their price target on shares of Rocket Lab USA from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.18.

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.