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 firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rocket Lab USA Stock Performance

Shares of RKLB stock traded up $0.29 during trading hours on Monday, reaching $19.29. 29,107,033 shares of the company traded hands, compared to its average volume of 11,026,539. The firm has a 50-day moving average price of $10.38 and a 200 day moving average price of $6.92. The company has a market cap of $9.58 billion, a P/E 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 company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds have recently modified their holdings of RKLB. Allworth Financial LP lifted its position in shares of Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after acquiring an additional 8,992 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Rocket Lab USA during the 2nd quarter valued at about $46,000. Baxter Bros Inc. bought a new stake in shares of Rocket Lab USA in the 2nd quarter valued at approximately $48,000. Smith Anglin Financial LLC purchased a new position in Rocket Lab USA during the third quarter worth $104,000. Finally, Advisors Asset Management Inc. grew its holdings in Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp lifted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lifted their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, JMP Securities initiated coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.72.

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.