Avior Wealth Management LLC Raises Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Avior Wealth Management LLC lifted its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 478.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,966 shares of the rocket manufacturer’s stock after acquiring an additional 5,762 shares during the period. Avior Wealth Management LLC’s holdings in Rocket Lab USA were worth $177,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank lifted its position in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Rocket Lab USA by 29.1% during the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock valued at $106,000 after purchasing an additional 4,997 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Rocket Lab USA by 21.2% during the second quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer’s stock valued at $985,000 after buying an additional 35,849 shares during the last quarter. Algert Global LLC bought a new stake in Rocket Lab USA in the 2nd quarter worth about $154,000. Finally, Creative Planning lifted its stake in Rocket Lab USA by 63.3% during the 2nd quarter. Creative Planning now owns 60,043 shares of the rocket manufacturer’s stock valued at $288,000 after acquiring an additional 23,264 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RKLB shares. Bank of America upped their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald raised their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.06.

Rocket Lab USA Stock Performance

RKLB stock opened at $29.39 on Tuesday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The business has a 50-day moving average price of $25.29 and a 200 day moving average price of $14.24. The company has a market capitalization of $14.69 billion, a P/E ratio of -79.44 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insider Activity

In other news, 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

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.