Fmr LLC Decreases Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Fmr LLC lowered its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 62.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,941 shares of the rocket manufacturer’s stock after selling 19,753 shares during the period. Fmr LLC’s holdings in Rocket Lab USA were worth $116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. purchased a new position in Rocket Lab USA during the 3rd quarter valued at about $116,000. Citigroup Inc. raised its holdings in 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 buying an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Intech Investment Management LLC bought a new position in Rocket Lab USA during the 3rd quarter valued at about $921,000. Finally, Advisors Asset Management Inc. raised its stake in Rocket Lab USA by 28.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after buying an additional 3,220 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

Shares of RKLB stock opened at $24.87 on Monday. The stock’s 50-day moving average is $18.08 and its 200 day moving average is $10.34. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $28.10. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company has a market cap of $12.43 billion, a P/E ratio of -67.21 and a beta of 1.96.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RKLB. 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 Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. KeyCorp upped their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. Finally, Bank of America increased their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.44.

Insider Activity

In other Rocket Lab USA news, 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 value of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now owns 534,675 shares in the company, 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 ninety days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Corporate insiders own 13.70% of the company’s stock.

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.