Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock Position Trimmed by International Assets Investment Management LLC

International Assets Investment Management LLC cut its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 77.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,850 shares of the rocket manufacturer's stock after selling 76,326 shares during the quarter. International Assets Investment Management LLC's holdings in Rocket Lab USA were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Citigroup Inc. grew its holdings in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock worth $6,727,000 after purchasing an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock worth $28,006,000 after buying an additional 532,207 shares during the period. Geode Capital Management LLC increased its position in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock worth $80,317,000 after acquiring an additional 898,223 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Rocket Lab USA in the 3rd quarter valued at $449,000. Finally, National Bank of Canada FI lifted its holdings in shares of Rocket Lab USA by 149.2% during the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer's stock valued at $490,000 after acquiring an additional 30,178 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RKLB has been the subject of several recent research reports. Bank of America increased their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their price objective 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. Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a "neutral" rating in a research note 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 report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.44.

Rocket Lab USA Stock Down 1.6 %

Shares of Rocket Lab USA stock traded down $0.45 during trading on Friday, reaching $26.91. The company had a trading volume of 15,304,898 shares, compared to its average volume of 18,567,434. The company has a market cap of $13.45 billion, a price-to-earnings ratio of -72.73 and a beta of 1.98. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $30.26. The firm's fifty day moving average is $22.88 and its 200-day moving average is $12.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Buying and Selling at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the sale, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock worth $38,168,400 over the last quarter. 13.70% of the stock is owned by corporate insiders.

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.