Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Arjun Kampani Sells 28,562 Shares

Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction dated 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 directly owns 608,996 shares in the company, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $25.67 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $27.20. The stock has a market cap of $12.83 billion, a PE ratio of -69.38 and a beta of 1.29. The stock has a fifty day moving average of $12.89 and a 200-day moving average of $7.93.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. JMP Securities initiated coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Bank of America upped their price target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average target price of $16.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in Rocket Lab USA during the 3rd quarter worth approximately $8,930,000. International Assets Investment Management LLC increased its holdings in Rocket Lab USA by 934.5% during the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after acquiring an additional 88,686 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Rocket Lab USA by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock worth $440,000 after purchasing an additional 26,605 shares in the last quarter. Finally, Venture Visionary Partners LLC bought a new position in Rocket Lab USA in the 3rd quarter valued at $886,000. Hedge funds and other institutional investors 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.