Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Bought by Spire Wealth Management

Spire Wealth Management raised its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 14.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,400 shares of the rocket manufacturer’s stock after acquiring an additional 1,400 shares during the period. Spire Wealth Management’s holdings in Rocket Lab USA were worth $290,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC lifted its stake in shares of Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after purchasing an additional 334 shares during the period. New Millennium Group LLC increased its holdings in Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after buying an additional 1,050 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in shares of Rocket Lab USA in the fourth quarter worth about $207,000. KBC Group NV boosted its stake in shares of Rocket Lab USA by 36.1% during the 4th quarter. KBC Group NV now owns 14,258 shares of the rocket manufacturer’s stock worth $363,000 after acquiring an additional 3,779 shares in the last quarter. Finally, McGuire Investment Group LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at about $310,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $27.68 on Friday. The company has a market cap of $13.84 billion, a P/E ratio of -74.81 and a beta of 1.99. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The company’s 50-day moving average price is $26.28 and its 200-day moving average price is $15.49. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Analyst Ratings Changes

A number of brokerages have issued reports on RKLB. Citigroup increased their price target on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Cantor Fitzgerald increased their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

Insider Buying and Selling at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the transaction, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,114,530 shares of company stock worth $38,168,400. 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.