Insider Selling: O’Donnell Shaun, Rocket Lab USA Inc. [RKLB] EVP – Global Operations divested 200,000 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Rocket Lab USA Inc. shares valued at $1,126,000 were sold by O’Donnell Shaun on Sep 13. At $5.63 per share, O’Donnell Shaun sold 200,000 shares. The insider’s holdings dropped to 705,485 shares worth approximately $3.04 million following the completion of this transaction.


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Also, GRIFFIN MICHAEL D sold 456,190 shares, netting a total of over 2,563,788 in proceeds. Following the sale of shares at $5.62 each, the insider now holds 0 shares.

Before that, Spice Adam C. had sold 41,508 shares from its account. In a trade valued at $217,917, the Chief Financial Officer traded Rocket Lab USA Inc. shares for $5.25 each. Upon closing the transaction, the insider’s holdings decreased to 41,508 shares, worth approximately $7.74 million.

As published in a research note from Cowen on August 31, 2022, Rocket Lab USA Inc. [RKLB] has been rated up from a Market perform to an Outperform and the price target has been revised to $8 from $6.50. This represents a 46.13% premium over Thursday’s closing price. Analysts at Wells Fargo started covering the stock with ‘”an Equal weight”‘ outlook in a report released in late June. As of February 23, 2022, ROTH Capital has initiated its “Buy” rating for RKLB. Earlier on January 12, 2022, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for RKLB stock.

Analyzing RKLB’s Price Performance

On Thursday, Rocket Lab USA Inc. [NASDAQ: RKLB] plunged -12.40% to $4.31. The stock’s lowest price that day was $4.30, but it reached a high of $4.9499 in the same session. During the last five days, there has been a drop of approximately -15.49%. Over the course of the year, Rocket Lab USA Inc. shares have dropped approximately -64.90%. Shares of the company reached a 52-week high of $12.33 on 01/03/22 and a 52-week low of $3.53 on 06/30/22. A 50-day SMA is recorded $5.17, while a 200-day SMA reached $7.26. Nevertheless, trading volume fell to 10.43 million shares from 4.14 million shares the previous day.

Support And Resistance Levels for Rocket Lab USA Inc. (RKLB)

According to the 24-hour chart, there is a support level at 4.09, which, if violated, would cause prices to drop to 3.87. In the upper region, resistance lies at 4.74. The next price resistance is at 5.17. RSI (Relative Strength Index) is 31.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.52, which suggests the price will decrease in the coming days. Percent R is at 99.39%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Rocket Lab USA Inc. subject to short interest?

Stocks of Rocket Lab USA Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 5.5 million shares to 17.59 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.09 million shares. A jump of 31.27% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.32 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.32.

Which companies own the most shares of Rocket Lab USA Inc. (RKLB)?

According to The Future Fund Management Agency filings, the company currently owns 42,364,939 shares, which is about 9.03% of the total RKLB shares outstanding. The investor’s shares have appreciated by 13,591 from its previous 13-F filing of 42351348.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $108,260,114. SSgA Funds Management, Inc. acquire a 88.66% interest valued at $82.41 million while BlackRock Fund Advisors purchased a 9,300,215 stake. A total of 4,785,637 shares of Rocket Lab USA Inc. were bought by ArrowMark Colorado Holdings LLC during the quarter, and 0 by Lockheed Martin Investment Manage. In its current portfolio, Geode Capital Management LLC holds 3,351,856 shares valued at $18.44 million.

In terms of Rocket Lab USA Inc. share price expectations, FactSet research, analysts set an average price target of $13.06 in the next 12 months, up nearly 174.39% from the previous closing price of $4.92. Analysts anticipate Rocket Lab USA Inc. stock to reach $20.00 by 2022, with the lowest price target being $6.50. In spite of this, 9 analysts ranked Rocket Lab USA Inc. stock as a Buy at the end of 2022. On November 30, 2021, BofA Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $20.

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