Geode Capital Management LLC increased its position in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,253,035 shares of the rocket manufacturer's stock after acquiring an additional 898,223 shares during the period. Geode Capital Management LLC owned approximately 1.66% of Rocket Lab USA worth $80,317,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Rocket Lab USA in the second quarter valued at $46,000. Amalgamated Bank grew its stake 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 during the last quarter. CIBC Asset Management Inc purchased a new position in Rocket Lab USA during the 2nd quarter valued at about $67,000. Sanctuary Advisors LLC acquired a new stake in shares of Rocket Lab USA in the second quarter valued at approximately $76,000. Finally, National Bank of Canada FI increased its stake in shares of Rocket Lab USA by 97.8% during the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer's stock worth $92,000 after purchasing an additional 10,000 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on RKLB. KeyCorp upped their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Citigroup increased their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Cantor Fitzgerald raised their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 11th. Finally, JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a "market perform" rating on the stock. 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.44.
View Our Latest Report on Rocket Lab USA
Shares of NASDAQ:RKLB opened at $24.87 on Friday. The firm has a market capitalization of $12.43 billion, a PE ratio of -67.21 and a beta of 1.96. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $28.10. 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 has a 50-day moving average of $18.08 and a two-hundred day moving average of $10.26.
In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares in the company, valued at $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % 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 valued at $38,168,400. 13.70% of the stock is currently owned by corporate insiders.
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.
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