Centiva Capital LP Acquires Shares of 11,971 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Centiva Capital LP bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,971 shares of the rocket manufacturer’s stock, valued at approximately $116,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ieq Capital LLC purchased a new position in shares of Rocket Lab USA in the 2nd quarter worth about $5,469,000. Mizuho Markets Americas LLC bought a new position in shares of Rocket Lab USA during the 3rd quarter valued at $8,930,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Rocket Lab USA by 25.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after purchasing an additional 432,501 shares during the last quarter. Finally, ARK Investment Management LLC grew its stake in shares of Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after purchasing an additional 391,778 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Up 8.1 %

NASDAQ RKLB opened at $24.42 on Friday. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $28.10. 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 stock has a market cap of $12.21 billion, a PE ratio of -66.00 and a beta of 1.96. The stock’s 50 day moving average is $16.28 and its 200 day moving average is $9.41.

Insider Activity

In other news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on 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 completion of the transaction, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction on 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 sale, the director now owns 2,351,135 shares in the company, valued at $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 worth $38,168,400 over the last quarter. Insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Stifel Nicolaus upped their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JMP Securities began coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Wells Fargo & Company raised their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average target price of $17.44.

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.