Udine Wealth Management Inc. Makes New $1.34 Million Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Udine Wealth Management Inc. acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 52,705 shares of the rocket manufacturer's stock, valued at approximately $1,342,000. Rocket Lab USA accounts for about 0.9% of Udine Wealth Management Inc.'s portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank increased its position in shares of 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 purchasing an additional 2,538 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Rocket Lab USA during the second quarter worth about $76,000. Allworth Financial LP increased its holdings in shares of 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 worth $92,000 after buying an additional 8,992 shares in the last quarter. Smith Anglin Financial LLC bought a new position in shares of Rocket Lab USA in the third quarter valued at approximately $104,000. Finally, Xponance Inc. boosted its holdings in shares of 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 acquiring 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 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 value of $868,627.20. Following the sale, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction 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 transaction, the director now owns 534,675 shares of the company's stock, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. Corporate insiders own 13.70% of the company's stock.

Analyst Ratings Changes

RKLB has been the topic of a number of recent analyst reports. Cantor Fitzgerald boosted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Citigroup increased their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, November 18th. The Goldman Sachs Group boosted 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 note on Thursday. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, KeyCorp boosted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Five 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.61.

Rocket Lab USA Stock Down 2.6 %

RKLB traded down $0.64 during trading on Friday, reaching $24.00. The company had a trading volume of 14,031,539 shares, compared to its average volume of 14,879,312. The business's fifty day moving average price is $24.05 and its 200 day moving average price is $13.38. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $30.26. The company has a market cap of $12.00 billion, a P/E ratio of -64.86 and a beta of 1.98.

About Rocket Lab USA

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.