Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Matthew Ocko Sells 2,000,000 Shares

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 stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Rocket Lab USA Trading Up 1.5 %

NASDAQ:RKLB opened at $19.29 on Tuesday. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $22.55. 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 firm’s fifty day moving average is $10.38 and its 200-day moving average is $6.92. The firm has a market cap of $9.58 billion, a P/E ratio of -51.84 and a beta of 1.29.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America upped their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus lifted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company upped their price objective on Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Citigroup lifted 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. Finally, Cantor Fitzgerald upped their price target 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. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and a consensus price target of $15.72.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds and other institutional investors have recently bought and sold shares of RKLB. Victory Capital Management Inc. raised its position in shares of Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after acquiring an additional 1,709 shares in the last quarter. Wellington Shields & Co. LLC grew its stake in Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after purchasing an additional 2,503 shares during the period. Amalgamated Bank increased its holdings in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in Rocket Lab USA by 7.5% in 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 period. Finally, Lakeridge Wealth Management LLC boosted its holdings in shares of 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 buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds 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.