Insider Selling: Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Sells 50,000 Shares of Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rocket Lab USA Trading Up 0.4 %

Shares of RKLB opened at $23.11 on Thursday. The company’s fifty day moving average is $14.59 and its two-hundred day moving average is $8.65. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $28.10. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RKLB shares. Citigroup raised their price objective 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. JMP Securities assumed coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. 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 report on Tuesday, November 19th. Wells Fargo & Company raised 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, 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 report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds have recently made changes to their positions in RKLB. Ieq Capital LLC acquired a new position in shares of Rocket Lab USA during the 2nd quarter valued at $5,469,000. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA during the 3rd quarter valued at $8,930,000. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 532,207 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after acquiring an additional 432,501 shares in the last quarter. Institutional investors and hedge funds 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.