Zweig DiMenna Associates LLC purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 185,500 shares of the rocket manufacturer's stock, valued at approximately $4,725,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Citigroup Inc. lifted its holdings in shares of Rocket Lab USA by 46.8% in the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock worth $6,727,000 after acquiring an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock worth $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock worth $80,317,000 after purchasing an additional 898,223 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $449,000. Finally, National Bank of Canada FI grew its position in Rocket Lab USA by 149.2% in the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer's stock valued at $490,000 after purchasing an additional 30,178 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated 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 transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 in the last quarter. Insiders own 13.70% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Thursday, December 19th. Cantor Fitzgerald lifted their target price 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. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Finally, 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 report on Thursday, November 14th. Five research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.06.
Read Our Latest Stock Report on RKLB
Rocket Lab USA Price Performance
Shares of NASDAQ:RKLB traded down $1.21 during trading on Friday, reaching $30.36. The stock had a trading volume of 23,799,036 shares, compared to its average volume of 21,404,799. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business has a fifty day moving average price of $25.06 and a 200-day moving average price of $13.94. The stock has a market cap of $15.18 billion, a PE ratio of -82.05 and a beta of 1.98. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34.
Rocket Lab USA Company Profile
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Free Report)
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.
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