Allworth Financial LP Acquires 1,946 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Allworth Financial LP boosted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,430 shares of the rocket manufacturer’s stock after purchasing an additional 1,946 shares during the period. Allworth Financial LP’s holdings in Rocket Lab USA were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RKLB. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA in the fourth quarter valued at $40,000. New Millennium Group LLC grew its position 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 purchasing an additional 1,050 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Rocket Lab USA in the fourth quarter valued at $76,000. Arete Wealth Advisors LLC bought a new position in Rocket Lab USA in the third quarter valued at $106,000. Finally, Schneider Downs Wealth Management Advisors LP bought a new position in Rocket Lab USA in the third quarter valued at $107,000. Institutional investors own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the sale, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. The trade was a 2.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,530 shares of company stock worth $2,944,700. 13.70% of the stock is owned by insiders.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $23.55 on Friday. The firm has a 50-day moving average of $27.10 and a 200-day moving average of $17.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a market cap of $11.77 billion, a PE ratio of -63.65 and a beta of 1.99. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34.

Analyst Ratings Changes

A number of research analysts have recently commented on RKLB shares. The Goldman Sachs Group lifted their price objective 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. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald lifted 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. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.