MONECO Advisors LLC Invests $1.66 Million in Rocket Lab USA, Inc. (NASDAQ:RKLB)

MONECO Advisors LLC acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 65,000 shares of the rocket manufacturer’s stock, valued at approximately $1,656,000.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning raised its stake in Rocket Lab USA by 39.1% in the 3rd quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer’s stock worth $813,000 after acquiring an additional 23,504 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in Rocket Lab USA in the 3rd quarter worth $140,000. International Assets Investment Management LLC raised its stake in Rocket Lab USA by 934.5% in the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after acquiring an additional 88,686 shares during the last quarter. Allworth Financial LP raised its stake 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 acquiring an additional 8,992 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Rocket Lab USA by 33.1% during the 3rd quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer’s stock valued at $1,275,000 after buying an additional 32,618 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America lifted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Citigroup lifted their price objective on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. KeyCorp lifted their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Five equities 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Trading Down 6.8 %

RKLB stock opened at $23.55 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. 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 cap of $11.77 billion, a price-to-earnings ratio of -63.65 and a beta of 1.99. The business’s 50-day moving average is $27.09 and its 200 day moving average is $17.27.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction that occurred 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 owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,530 shares of company stock worth $2,944,700. Insiders own 13.70% of the company’s stock.

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.