K.J. Harrison & Partners Inc Purchases 40,000 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

K.J. Harrison & Partners Inc boosted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 100.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 80,000 shares of the rocket manufacturer’s stock after buying an additional 40,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Rocket Lab USA were worth $1,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA in the 4th quarter worth approximately $40,000. New Millennium Group LLC lifted its holdings 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 worth $52,000 after acquiring an additional 1,050 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Rocket Lab USA in the fourth quarter worth $58,000. Newbridge Financial Services Group Inc. bought a new position in Rocket Lab USA in the fourth quarter valued at $76,000. Finally, Principal Securities Inc. raised its position in Rocket Lab USA by 137.3% during the fourth quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock valued at $136,000 after purchasing an additional 3,099 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the company’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 value of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RKLB shares. Citigroup upped their price objective on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. The Goldman Sachs Group upped their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday. Stifel Nicolaus upped their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, KeyCorp increased 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 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Trading Up 4.8 %

NASDAQ:RKLB opened at $21.25 on Thursday. The firm has a market capitalization of $10.62 billion, a P/E ratio of -57.43 and a beta of 1.99. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a fifty day moving average of $26.86 and a 200 day moving average of $17.70. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34.

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.