Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) Director Matthew Ocko sold 820,000 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $26.01, for a total value of $21,328,200.00. Following the sale, the director now owns 1,083,053 shares in the company, valued at approximately $28,170,208.53. This represents a 43.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Matthew Ocko also recently made the following trade(s):
- On Thursday, June 12th, Matthew Ocko sold 200,000 shares of Rocket Lab stock. The shares were sold at an average price of $26.44, for a total value of $5,288,000.00.
Rocket Lab Stock Performance
NASDAQ:RKLB opened at $30.04 on Friday. The firm has a market cap of $13.62 billion, a PE ratio of -75.10 and a beta of 2.08. Rocket Lab Corporation has a fifty-two week low of $4.20 and a fifty-two week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08. The business has a 50 day moving average price of $24.37 and a 200-day moving average price of $23.88.
Institutional Trading of Rocket Lab
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Wellington Management Group LLP bought a new position in Rocket Lab in the fourth quarter worth $17,261,000. Van ECK Associates Corp raised its holdings in Rocket Lab by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer’s stock worth $4,237,000 after purchasing an additional 35,293 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Rocket Lab by 2,186.7% during the first quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer’s stock valued at $6,321,000 after acquiring an additional 338,062 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Rocket Lab during the fourth quarter valued at $288,000. Finally, Raymond James Financial Inc. bought a new position in shares of Rocket Lab during the fourth quarter valued at $5,748,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. TD Cowen upgraded Rocket Lab to a “strong-buy” rating in a research report on Monday, February 24th. Morgan Stanley boosted their price objective on Rocket Lab from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Stifel Nicolaus boosted their price objective on Rocket Lab from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Needham & Company LLC boosted their price objective on Rocket Lab from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Finally, KeyCorp reissued an “overweight” rating on shares of Rocket Lab in a report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.10.
Read Our Latest Stock Report on RKLB
About Rocket Lab
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.
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