Nisa Investment Advisors LLC Increases Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nisa Investment Advisors LLC grew its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 134.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,290 shares of the rocket manufacturer’s stock after acquiring an additional 5,325 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rocket Lab USA were worth $237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RKLB. Geode Capital Management LLC raised its position in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. increased 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 buying an additional 532,207 shares during the period. Mizuho Markets Americas LLC purchased a new position in shares of Rocket Lab USA in the third quarter worth about $8,930,000. Citigroup Inc. boosted its holdings in Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after acquiring an additional 220,432 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Rocket Lab USA during the 3rd quarter worth approximately $2,651,000. 71.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Alexander R. Slusky sold 50,000 shares of the company’s 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 sale, the director now owns 534,675 shares in the company, valued at $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by corporate insiders.

Rocket Lab USA Stock Down 0.4 %

RKLB stock opened at $28.87 on Thursday. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The company has a market capitalization of $14.43 billion, a price-to-earnings ratio of -78.02 and a beta of 1.98. The business’s 50 day moving average price is $25.66 and its two-hundred day moving average price is $14.58. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Bank of America boosted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald upped their price target 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. 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 report on Thursday, January 16th. Citigroup upped their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company raised their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average target price of $22.28.

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.