Daiwa Securities Group Inc. Sells 7,722 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Daiwa Securities Group Inc. decreased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 4.8% in the third quarter, Holdings Channel.com reports. The fund owned 151,754 shares of the rocket manufacturer’s stock after selling 7,722 shares during the period. Daiwa Securities Group Inc.’s holdings in Rocket Lab USA were worth $1,477,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Rocket Lab USA by 4.4% during the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after acquiring an additional 1,709 shares during the last quarter. Wellington Shields & Co. LLC boosted its position in shares of Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after acquiring an additional 2,503 shares during the last quarter. Amalgamated Bank boosted its position in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after acquiring an additional 2,807 shares during the last quarter. Finally, Lakeridge Wealth Management LLC boosted its position in shares of Rocket Lab USA by 30.0% during the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RKLB. Citigroup increased their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. 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 research report on Thursday, November 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Insider Activity

In related news, General Counsel Arjun Kampani sold 28,562 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the transaction, the general counsel now owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,064,530 shares of company stock valued at $37,018,400. 13.70% of the stock is currently owned by company insiders.

Rocket Lab USA Trading Up 0.9 %

Shares of RKLB opened at $25.67 on Friday. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $27.20. The company has a market cap of $12.83 billion, a P/E ratio of -69.38 and a beta of 1.29. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company’s fifty day simple moving average is $13.26 and its 200-day simple moving average is $8.06.

Rocket Lab USA Company Profile

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.