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 dated Monday, November 25th. The shares were 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 directly owns 608,996 shares in the company, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rocket Lab USA Trading Up 6.3 %

Shares of Rocket Lab USA stock opened at $27.28 on Friday. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $28.05. 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 company has a market capitalization of $13.64 billion, a P/E ratio of -73.73 and a beta of 1.29. The company has a fifty day moving average of $13.66 and a 200 day moving average of $8.22.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its stake in 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 valued at $395,000 after purchasing an additional 1,709 shares during the period. Wellington Shields & Co. LLC grew its holdings 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 valued at $332,000 after buying an additional 2,503 shares in the last quarter. Amalgamated Bank raised its position in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the last quarter. 180 Wealth Advisors LLC raised its position in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after buying an additional 2,807 shares during the last quarter. Finally, Lakeridge Wealth Management LLC boosted its position in shares of Rocket Lab USA by 30.0% during the third 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 during the last quarter. Institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RKLB shares. Citigroup increased their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald boosted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Finally, Bank of America lifted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.