Matthew Ocko Sells 2,000,000 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rocket Lab USA Trading Up 1.5 %

NASDAQ:RKLB opened at $19.29 on Tuesday. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $22.55. The firm has a 50-day moving average price of $10.38 and a two-hundred day moving average price of $6.92. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of -51.84 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.

Institutional Trading of Rocket Lab USA

A number of hedge funds have recently bought and sold shares of RKLB. Arete Wealth Advisors LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter valued at $106,000. Geode Capital Management LLC grew its position in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Rocket Lab USA by 22.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after buying an additional 41,551 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Rocket Lab USA in the third quarter worth about $1,403,000. Finally, Main Management ETF Advisors LLC purchased a new position in Rocket Lab USA in the third quarter valued at about $1,570,000. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RKLB shares. Citigroup raised their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald boosted their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. Wells Fargo & Company boosted 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 report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Five investment 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 company has a consensus rating of “Moderate Buy” and a consensus price target 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.