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 that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rocket Lab USA Price Performance

Rocket Lab USA stock opened at $20.50 on Wednesday. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $22.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business has a fifty day moving average of $10.64 and a two-hundred day moving average of $7.03. The company has a market cap of $10.18 billion, a P/E ratio of -55.59 and a beta of 1.29.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RKLB shares. JMP Securities started coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating on the stock. Wells Fargo & Company lifted 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 report on Wednesday, November 13th. Cantor Fitzgerald lifted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price objective 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake 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 buying an additional 4,032 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA during the 2nd quarter worth $46,000. Baxter Bros Inc. acquired a new position in shares of Rocket Lab USA during the 2nd quarter worth $48,000. Amalgamated Bank raised 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 worth $58,000 after buying an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Rocket Lab USA during the 2nd quarter worth $67,000. 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.