Fmr LLC Has $116,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Fmr LLC lessened its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 62.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,941 shares of the rocket manufacturer’s stock after selling 19,753 shares during the quarter. Fmr LLC’s holdings in Rocket Lab USA were worth $116,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Rocket Lab USA in the second quarter valued at approximately $46,000. Amalgamated Bank grew its position in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Rocket Lab USA in the second quarter worth $67,000. Sanctuary Advisors LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter worth approximately $76,000. Finally, National Bank of Canada FI boosted its holdings in shares of Rocket Lab USA by 97.8% in the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group increased their price target on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. KeyCorp boosted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald lifted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.44.

Insider Transactions at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the transaction, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frank Klein sold 35,968 shares of the firm’s 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 directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock worth $38,168,400 over the last quarter. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Up 7.1 %

RKLB stock opened at $24.87 on Monday. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $28.10. The stock has a fifty day moving average of $18.08 and a 200-day moving average of $10.34. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of -67.21 and a beta of 1.96. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

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.