Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Sells 2,000,000 Shares of Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rocket Lab USA Stock Up 6.3 %

Shares of NASDAQ:RKLB opened at $20.50 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $22.55. The stock has a market capitalization of $10.18 billion, a P/E ratio of -55.59 and a beta of 1.29. The stock has a 50-day simple moving average of $10.64 and a 200-day simple moving average of $7.03.

Analyst Ratings Changes

Several research analysts recently weighed in on RKLB shares. KeyCorp boosted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday. JMP Securities started coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company lifted their price target on Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Rocket Lab USA by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after purchasing an additional 1,709 shares during the period. Wellington Shields & Co. LLC lifted its position in Rocket Lab USA by 3.8% during the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after acquiring an additional 2,503 shares in the last quarter. Amalgamated Bank lifted its position in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in Rocket Lab USA by 7.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after acquiring an additional 2,807 shares in the last quarter. Finally, Lakeridge Wealth Management LLC lifted its position in Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after acquiring an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.