Empowered Funds LLC Makes New $288,000 Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Empowered Funds LLC purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,305 shares of the rocket manufacturer’s stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors have also modified their holdings of RKLB. New Millennium Group LLC boosted its stake in shares of 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 buying an additional 1,050 shares during the period. Allworth Financial LP increased its position in 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 period. Arete Wealth Advisors LLC bought a new position in shares of Rocket Lab USA during the 3rd quarter worth about $106,000. Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Rocket Lab USA in the 3rd quarter worth approximately $107,000. Finally, Franklin Resources Inc. acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at $107,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RKLB shares. Citigroup boosted their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Bank of America raised their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company upped 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. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, KeyCorp increased their price target on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. 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’s stock. According to MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $25.26 on Friday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. 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 stock has a market cap of $12.63 billion, a P/E ratio of -68.27 and a beta of 1.99. The stock has a 50 day simple moving average of $27.05 and a 200 day simple moving average of $17.08.

Insider Buying and Selling

In related 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 transaction, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Arjun Kampani sold 28,562 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 $689,772.30. Following the completion of the sale, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,530 shares of company stock valued at $2,944,700. 13.70% of the stock is owned by company insiders.

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.