HighTower Advisors LLC Grows Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

HighTower Advisors LLC raised its position in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 79.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 228,890 shares of the rocket manufacturer's stock after buying an additional 101,004 shares during the period. HighTower Advisors LLC's holdings in Rocket Lab USA were worth $2,229,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RKLB. International Assets Investment Management LLC purchased a new position in shares of Rocket Lab USA in the 2nd quarter valued at about $46,000. Amalgamated Bank increased its position in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock valued at $58,000 after buying an additional 2,538 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Rocket Lab USA during the 2nd quarter worth approximately $67,000. Sanctuary Advisors LLC acquired a new position in Rocket Lab USA during the second quarter worth $76,000. Finally, National Bank of Canada FI lifted its holdings in Rocket Lab USA by 97.8% during the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer's stock valued at $92,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. KeyCorp lifted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Citigroup increased their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Bank of America raised their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.44.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the firm's stock in a transaction dated 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 directly owns 2,351,135 shares of the company's stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the sale, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock worth $38,168,400 in the last ninety days. 13.70% of the stock is owned by insiders.

Rocket Lab USA Trading Up 8.1 %

Shares of RKLB stock traded up $1.84 on Friday, hitting $24.42. 18,758,537 shares of the stock traded hands, compared to its average volume of 25,292,344. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $28.10. The stock has a market capitalization of $12.21 billion, a PE ratio of -66.00 and a beta of 1.96. The firm's 50-day moving average price is $16.57 and its two-hundred day moving average price is $9.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

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.