Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Avitas Wealth Management LLC

Avitas Wealth Management LLC lessened its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,262 shares of the rocket manufacturer’s stock after selling 1,542 shares during the period. Avitas Wealth Management LLC’s holdings in Rocket Lab USA were worth $3,038,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC boosted its holdings in shares of 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 valued at $52,000 after acquiring an additional 1,050 shares during the period. Sanctuary Advisors LLC acquired a new position in Rocket Lab USA during the second quarter worth about $76,000. Allworth Financial LP raised its holdings in shares of Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 8,992 shares in the last quarter. Smith Anglin Financial LLC bought a new position in shares of Rocket Lab USA in the third quarter valued at $104,000. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth $106,000. 71.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on RKLB. 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 research report on Thursday, November 14th. The Goldman Sachs Group increased their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Citigroup lifted their price target on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Stifel Nicolaus increased their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, KeyCorp raised their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

Insiders Place Their Bets

In other news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 over the last ninety days. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Up 1.1 %

Shares of NASDAQ RKLB opened at $28.68 on Wednesday. The business has a 50 day simple moving average of $26.16 and a 200 day simple moving average of $15.23. 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 52 week low of $3.47 and a 52 week high of $33.34.

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.