Empowered Funds LLC Acquires New Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Empowered Funds LLC acquired a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,305 shares of the rocket manufacturer's stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Creative Planning lifted its position in shares of Rocket Lab USA by 39.1% in the 3rd quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer's stock worth $813,000 after buying an additional 23,504 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $140,000. International Assets Investment Management LLC lifted its holdings in shares of Rocket Lab USA by 934.5% in the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer's stock worth $10,090,000 after purchasing an additional 88,686 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of 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 worth $92,000 after purchasing an additional 8,992 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Rocket Lab USA by 33.1% during the 3rd quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer's stock valued at $1,275,000 after purchasing an additional 32,618 shares during the period. Institutional investors own 71.78% of the company's stock.

Rocket Lab USA Price Performance

NASDAQ RKLB traded down $1.71 on Friday, reaching $23.55. The company's stock had a trading volume of 16,180,700 shares, compared to its average volume of 19,694,512. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. 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 firm's 50 day moving average is $27.10 and its two-hundred day moving average is $17.14. The stock has a market cap of $11.77 billion, a PE ratio of -63.65 and a beta of 1.99.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company's stock, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,530 shares of company stock valued at $2,944,700 over the last ninety days. Insiders own 13.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RKLB. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a research report on Thursday, December 19th. The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 11th. Finally, Bank of America boosted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Rocket Lab USA currently 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.