Wingate Wealth Advisors Inc. Takes $40,000 Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,570 shares of the rocket manufacturer’s stock, valued at approximately $40,000.

Several other institutional investors have also bought and sold shares of the stock. Chicago Partners Investment Group LLC lifted its position in shares of Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after buying an additional 334 shares in the last quarter. New Millennium Group LLC lifted its holdings in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after acquiring an additional 1,050 shares during the period. Smith Anglin Financial LLC boosted its position in Rocket Lab USA by 10.3% in the fourth quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer’s stock worth $299,000 after purchasing an additional 1,096 shares during the last quarter. Spire Wealth Management grew its stake in Rocket Lab USA by 14.0% in the 4th quarter. Spire Wealth Management now owns 11,400 shares of the rocket manufacturer’s stock valued at $290,000 after purchasing an additional 1,400 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Rocket Lab USA by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after purchasing an additional 1,709 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RKLB. Citigroup boosted their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Cantor Fitzgerald increased their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group raised their price target 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, January 16th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Bank of America raised 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Trading Down 7.8 %

NASDAQ:RKLB opened at $28.22 on Wednesday. The stock’s fifty day moving average price is $26.46 and its two-hundred day moving average price is $16.05. The company has a market cap of $14.11 billion, a P/E ratio of -76.27 and a beta of 1.99. 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 1 year low of $3.47 and a 1 year high of $33.34.

Insider Activity

In other news, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares in the company, valued at approximately $3,126,107.22. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,124,530 shares of company stock worth $38,404,700 over the last ninety days. Company 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.