Van ECK Associates Corp Purchases 35,293 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Van ECK Associates Corp raised its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 26.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,369 shares of the rocket manufacturer’s stock after purchasing an additional 35,293 shares during the quarter. Van ECK Associates Corp’s holdings in Rocket Lab USA were worth $4,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA in the 4th quarter worth approximately $40,000. New Millennium Group LLC increased its stake in Rocket Lab USA by 105.0% during the 4th 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 stake in Rocket Lab USA in the 4th quarter worth about $76,000. Allworth Financial LP boosted its stake 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 buying an additional 8,992 shares during the last quarter. Finally, Arete Wealth Advisors LLC bought a new position in Rocket Lab USA in the third quarter worth approximately $106,000. Institutional investors own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab USA

In other news, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the transaction, the director now owns 132,294 shares in the company, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the company’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 transaction, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,530 shares of company stock valued at $2,944,700. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $25.93 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The business’s fifty day moving average price is $27.05 and its 200 day moving average price is $17.08. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. The stock has a market capitalization of $12.96 billion, a PE ratio of -70.08 and a beta of 1.99.

Wall Street Analysts Forecast Growth

RKLB has been the topic of a number of recent analyst reports. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Cantor Fitzgerald raised 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. Wells Fargo & Company increased their target price on 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. Bank of America increased their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Citigroup raised their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Company 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.