Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Sells 28,562 Shares of Stock

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

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $25.67 on Thursday. The company has a market capitalization of $12.83 billion, a P/E ratio of -69.38 and a beta of 1.29. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $27.20. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a 50 day moving average price of $12.89 and a two-hundred day moving average price of $7.93.

Analysts Set New Price Targets

A number of brokerages have recently commented on RKLB. Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Citigroup increased their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price target on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA during the third quarter worth about $8,930,000. International Assets Investment Management LLC grew its stake in shares of Rocket Lab USA by 934.5% in the third quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after purchasing an additional 88,686 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Rocket Lab USA by 40.9% during the 2nd 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. Finally, Venture Visionary Partners LLC purchased a new position in Rocket Lab USA during the 3rd quarter valued at about $886,000. 71.78% of the stock is currently owned by institutional investors.

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.