Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Sells $689,772.30 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rocket Lab USA Trading Up 0.9 %

Shares of NASDAQ:RKLB opened at $25.67 on Friday. The business has a fifty day simple moving average of $13.26 and a 200-day simple moving average of $8.06. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $27.20. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Analysts Set New Price Targets

A number of brokerages recently commented on RKLB. 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 note on Wednesday, November 13th. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Citigroup lifted their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Bank of America increased their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Trading of Rocket Lab USA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its holdings in shares of 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 worth $44,000 after acquiring an additional 4,032 shares during the period. International Assets Investment Management LLC purchased a new position in Rocket Lab USA during the second quarter worth approximately $46,000. Baxter Bros Inc. acquired a new position in shares of Rocket Lab USA in the 2nd quarter valued at $48,000. Amalgamated Bank grew its stake in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of Rocket Lab USA during the 2nd quarter worth $67,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.