Harel Insurance Investments & Financial Services Ltd. Buys 13,040 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 52.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,728 shares of the rocket manufacturer's stock after acquiring an additional 13,040 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Rocket Lab USA were worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of Rocket Lab USA by 26.7% in 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. Sanctuary Advisors LLC acquired a new stake in shares of Rocket Lab USA during the second quarter worth about $76,000. Allworth Financial LP lifted its position in Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer's stock valued at $92,000 after purchasing an additional 8,992 shares during the period. Smith Anglin Financial LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at about $104,000. Finally, Xponance Inc. boosted its position in Rocket Lab USA by 29.1% in the 2nd quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer's stock worth $106,000 after purchasing an additional 4,997 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Insiders Place Their Bets

In other news, insider Frank Klein sold 35,968 shares of the 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 $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares of the company's stock, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the transaction, the general counsel now owns 608,996 shares of the company's stock, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RKLB shares. Stifel Nicolaus raised their price target 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, January 8th. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Thursday, December 19th. Citigroup lifted their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Finally, KeyCorp increased their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $20.06.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB traded down $1.21 during mid-day trading on Friday, reaching $30.36. The company had a trading volume of 23,808,445 shares, compared to its average volume of 16,796,540. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The stock has a market cap of $15.18 billion, a PE ratio of -82.05 and a beta of 1.98. The company has a 50-day moving average price of $25.29 and a two-hundred day moving average price of $14.12.

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.