Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Sells $689,772.30 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the transaction, the general counsel now owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This trade represents a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Rocket Lab USA Stock Performance

RKLB stock opened at $27.28 on Friday. The stock’s 50 day simple moving average is $13.66 and its 200 day simple moving average is $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 stock has a market capitalization of $13.64 billion, a PE ratio of -73.73 and a beta of 1.29.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FORA Capital LLC bought a new stake in Rocket Lab USA in the 3rd quarter worth about $449,000. Vanguard Group Inc. boosted its holdings in shares of 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 during the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Rocket Lab USA in the third quarter worth approximately $8,930,000. International Assets Investment Management LLC raised its holdings in shares of 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 during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Rocket Lab USA by 40.9% during 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 period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup upped their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. KeyCorp lifted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group upped their price target on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Bank of America lifted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.