Newbridge Financial Services Group Inc. Makes New $76,000 Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Newbridge Financial Services Group Inc. bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,000 shares of the rocket manufacturer’s stock, valued at approximately $76,000.

A number of other institutional investors have also modified their holdings of RKLB. Citigroup Inc. increased its stake in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after buying an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. boosted 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 valued at $28,006,000 after acquiring an additional 532,207 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares during the period. FORA Capital LLC purchased a new position in Rocket Lab USA during the third quarter worth about $449,000. Finally, National Bank of Canada FI lifted its position in Rocket Lab USA by 149.2% in the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after purchasing an additional 30,178 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $30.60 on Tuesday. 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 50-day moving average price is $26.33 and its 200 day moving average price is $15.87. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of -82.70 and a beta of 1.99.

Analysts Set New Price Targets

Several research firms have issued reports on RKLB. Citigroup boosted their target price on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Wells Fargo & Company raised their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. KeyCorp upped their price target on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. 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. According to MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average target price of $22.28.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction 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 directly owns 534,675 shares of the company’s stock, valued at $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the sale, the general counsel now directly owns 608,996 shares in the company, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,124,530 shares of company stock valued at $38,404,700 over the last quarter. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA 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.