Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Sells $236,300.00 in Stock

Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rocket Lab USA Stock Down 3.2 %

Shares of Rocket Lab USA stock opened at $27.68 on Friday. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $26.28 and a 200-day moving average price of $15.49.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA in the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA in the fourth quarter valued at approximately $40,000. Smartleaf Asset Management LLC lifted its stake in Rocket Lab USA by 1,565.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after purchasing an additional 1,894 shares during the last quarter. New Millennium Group LLC increased its position in Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after buying an additional 1,050 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Rocket Lab USA in the fourth quarter valued at $58,000. Institutional investors own 71.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RKLB shares. 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 report on Thursday, November 14th. Citigroup lifted their price target on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Bank of America increased their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. KeyCorp increased their price target on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus raised their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

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.