Rocket Lab (NASDAQ:RKLB) SVP Arjun Kampani Sells 23,711 Shares of Stock

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) SVP Arjun Kampani sold 23,711 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total value of $1,706,006.45. Following the transaction, the senior vice president directly owned 397,988 shares in the company, valued at $28,635,236.60. The trade was a 5.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Arjun Kampani also recently made the following trade(s):

  • On Monday, March 2nd, Arjun Kampani sold 28,761 shares of Rocket Lab stock. The stock was sold at an average price of $69.59, for a total transaction of $2,001,477.99.

Rocket Lab Stock Up 2.5%

Shares of Rocket Lab stock opened at $71.91 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 2.83. The stock has a market cap of $38.41 billion, a price-to-earnings ratio of -194.35 and a beta of 2.20. The firm’s 50-day moving average is $77.74 and its two-hundred day moving average is $61.70. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $99.58.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of analyst reports. Needham & Company LLC lowered their target price on Rocket Lab from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, February 27th. Bank of America upped their price objective on Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Roth Mkm reaffirmed a “buy” rating and set a $75.00 price objective on shares of Rocket Lab in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $75.92.

Check Out Our Latest Stock Analysis on RKLB

Key Headlines Impacting Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

Hedge Funds Weigh In On Rocket Lab

Several hedge funds and other institutional investors have recently modified their holdings of RKLB. AQR Capital Management LLC boosted its stake in Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after purchasing an additional 92,849 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Rocket Lab by 1,812.1% in the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after buying an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Rocket Lab by 53.8% in the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $282,000 after buying an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Rocket Lab by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after buying an additional 90,758 shares during the period. Finally, Focus Partners Wealth grew its holdings in shares of Rocket Lab by 1.0% during the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after buying an additional 681 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab Company Profile

(Get Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

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Insider Buying and Selling by Quarter for Rocket Lab (NASDAQ:RKLB)

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