Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Nina Armagno Sells 10,000 Shares

Rocket Lab USA, Inc. (NASDAQ:RKLB) Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rocket Lab USA Stock Down 1.0 %

Shares of Rocket Lab USA stock opened at $27.41 on Friday. 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 stock’s 50-day simple moving average is $26.32 and its 200-day simple moving average is $15.57. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA during the fourth quarter valued at $40,000. New Millennium Group LLC grew its stake in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after acquiring an additional 1,050 shares in the last quarter. AlphaQuest LLC purchased a new stake in Rocket Lab USA in the 4th quarter worth $52,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Rocket Lab USA by 1,565.3% during the 4th 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. 71.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on RKLB shares. Citigroup lifted their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. KeyCorp boosted their price target on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Company Profile

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.