Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,307 shares of the rocket manufacturer’s stock after selling 9,498 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rocket Lab USA were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Rocket Lab USA by 134.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer’s stock valued at $237,000 after acquiring an additional 5,325 shares in the last quarter. Ariose Capital Management Ltd purchased a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $1,871,000. Udine Wealth Management Inc. acquired a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $1,342,000. Hennion & Walsh Asset Management Inc. increased its stake in Rocket Lab USA by 3.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer’s stock worth $2,340,000 after buying an additional 3,479 shares during the period. Finally, Connective Portfolio Management LLC acquired a new stake in Rocket Lab USA during the 4th quarter worth approximately $586,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Down 0.3 %

Shares of Rocket Lab USA stock opened at $28.60 on Thursday. The company has a fifty day simple moving average of $26.23 and a 200-day simple moving average of $15.40. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month 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 $14.30 billion, a price-to-earnings ratio of -77.30 and a beta of 1.99.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. 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 company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction 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 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 90 days. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RKLB shares. Bank of America boosted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup upped their price target on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Cantor Fitzgerald lifted their price objective 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 boosted their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, KeyCorp raised their target price on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.28.

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.