Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI lifted its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 149.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,408 shares of the rocket manufacturer's stock after acquiring an additional 30,178 shares during the quarter. National Bank of Canada FI's holdings in Rocket Lab USA were worth $490,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in Rocket Lab USA by 4.4% during the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer's stock worth $395,000 after purchasing an additional 1,709 shares during the period. Wellington Shields & Co. LLC grew its holdings in shares of Rocket Lab USA by 3.8% in the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer's stock valued at $332,000 after purchasing an additional 2,503 shares in the last quarter. Amalgamated Bank increased its stake in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock worth $58,000 after buying an additional 2,538 shares during the period. Lakeridge Wealth Management LLC lifted its holdings in Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer's stock worth $126,000 after buying an additional 3,000 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Rocket Lab USA by 28.7% during the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer's stock worth $140,000 after acquiring an additional 3,220 shares during the period. Hedge funds and other institutional investors own 71.78% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RKLB. Bank of America boosted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Cantor Fitzgerald lifted their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Wells Fargo & Company raised 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 report on Wednesday, December 11th. The Goldman Sachs Group boosted their target price 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, Stifel Nicolaus raised their price target on Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.44.

Insider Activity at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the company's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value 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. This represents a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Klein sold 35,968 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock valued at $38,168,400 in the last three months. 13.70% of the stock is currently owned by company insiders.

Rocket Lab USA Stock Performance

Shares of RKLB stock traded up $1.48 during mid-day trading on Monday, hitting $25.90. 19,461,410 shares of the stock were exchanged, compared to its average volume of 12,114,230. The stock's fifty day simple moving average is $16.89 and its two-hundred day simple moving average is $9.78. 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, Inc. has a 12-month low of $3.47 and a 12-month high of $28.10. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of -70.00 and a beta of 1.96.

Rocket Lab USA 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.