Rocket Lab USA (NASDAQ:RKLB) Stock Price Down 0.8% on Insider Selling

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares fell 0.8% on Wednesday after an insider sold shares in the company. The stock traded as low as $24.73 and last traded at $25.23. 15,344,802 shares changed hands during trading, an increase of 33% from the average session volume of 11,547,206 shares. The stock had previously closed at $25.44.

Specifically, 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 sale, the general counsel now owns 608,996 shares in the company, 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 this link. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the transaction, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities analysts recently commented on RKLB shares. Stifel Nicolaus lifted 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. Cantor Fitzgerald boosted 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. Bank of America boosted their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. KeyCorp lifted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Rocket Lab USA Stock Performance

The firm’s 50 day moving average is $13.26 and its 200 day moving average is $8.06. 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RKLB. Victory Capital Management Inc. raised its holdings in shares of Rocket Lab USA by 4.4% during the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after purchasing an additional 1,709 shares during the last quarter. Wellington Shields & Co. LLC raised its holdings in shares of Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after buying an additional 2,807 shares during the last quarter. Finally, Lakeridge Wealth Management LLC increased its holdings in Rocket Lab USA by 30.0% during the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after buying an additional 3,000 shares during the last quarter. 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.