Advisors Asset Management Inc. grew its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 28.7% during the third quarter, HoldingsChannel.com reports. The firm owned 14,438 shares of the rocket manufacturer’s stock after purchasing an additional 3,220 shares during the period. Advisors Asset Management Inc.’s holdings in Rocket Lab USA were worth $140,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 8,992 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA during the second quarter valued at $46,000. Baxter Bros Inc. bought a new position in shares of Rocket Lab USA during the second quarter valued at $48,000. Smith Anglin Financial LLC acquired a new position in shares of Rocket Lab USA during the third quarter worth $104,000. Finally, Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Rocket Lab USA in the third quarter worth $107,000. 71.78% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. Stifel Nicolaus raised their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald raised their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Bank of America upped their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, KeyCorp upped their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.
Read Our Latest Stock Analysis on RKLB
Insiders Place Their Bets
In other news, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the transaction, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,064,530 shares of company stock worth $37,018,400. 13.70% of the stock is currently owned by company insiders.
Rocket Lab USA Stock Performance
NASDAQ:RKLB opened at $27.28 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $28.05. The company has a fifty day moving average of $13.66 and a 200-day moving average of $8.22. The firm has a market capitalization of $13.64 billion, a P/E ratio of -73.73 and a beta of 1.29.
Rocket Lab USA Company Profile
(Free Report)
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.
See Also
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