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 firm’s stock in a transaction on Monday, November 25th. The shares were 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 of the company’s stock, valued at approximately $14,707,253.40. This trade represents a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Rocket Lab USA Price Performance

RKLB traded up $0.23 on Wednesday, reaching $25.67. The company had a trading volume of 26,547,281 shares, compared to its average volume of 11,610,826. The business has a 50 day simple moving average of $12.52 and a 200 day simple moving average of $7.81. The company has a market cap of $12.83 billion, a price-to-earnings ratio of -67.54 and a beta of 1.29. 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 52-week low of $3.47 and a 52-week high of $27.20.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RKLB. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JMP Securities started coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. Citigroup raised 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 note on Monday, November 18th. Finally, The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew 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 purchasing an additional 2,448,789 shares during the last quarter. Geode Capital Management LLC increased its position in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. ARK Investment Management LLC increased its position in Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after purchasing an additional 391,778 shares during the period. Charles Schwab Investment Management Inc. increased its position in Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the period. Finally, American Century Companies Inc. increased its position in Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after purchasing an additional 284,360 shares during the period. 71.78% of the stock is owned by hedge funds and other 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.