Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Sells $35,460,000.00 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) 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 owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock traded up $0.29 during trading on Monday, hitting $19.29. The stock had a trading volume of 29,107,033 shares, compared to its average volume of 11,026,539. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of -51.84 and a beta of 1.29. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $22.55. The business's 50-day moving average is $10.38 and its 200 day moving average is $6.92. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RKLB shares. JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a "market perform" rating on the stock. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company lifted their target price on shares of 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. Citigroup boosted their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a "buy" rating in a research report on Monday. Finally, The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. 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 presently has an average rating of "Moderate Buy" and an average price target of $15.72.

Hedge Funds Weigh In On Rocket Lab USA

Institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its holdings in shares of Rocket Lab USA by 59.4% during the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer's stock worth $44,000 after purchasing an additional 4,032 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter worth $46,000. Baxter Bros Inc. purchased a new position in Rocket Lab USA in the second quarter worth $48,000. Amalgamated Bank increased its stake in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock valued at $58,000 after acquiring an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA during the 2nd quarter valued at about $67,000. 71.78% of the stock is currently owned by institutional investors.

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.

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