Thompson Davis & CO. Inc. Trims Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Thompson Davis & CO. Inc. lowered its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 34.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,700 shares of the rocket manufacturer’s stock after selling 4,498 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Rocket Lab USA were worth $222,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RKLB. Creative Planning lifted 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 valued at $813,000 after buying an additional 23,504 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in Rocket Lab USA in the 3rd quarter valued at approximately $140,000. International Assets Investment Management LLC lifted 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 valued at $10,090,000 after buying an additional 88,686 shares in the last quarter. Allworth Financial LP raised its holdings 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 valued at $92,000 after acquiring an additional 8,992 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Rocket Lab USA by 33.1% in the 3rd quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer’s stock valued at $1,275,000 after acquiring an additional 32,618 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nina Armagno sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,530 shares of company stock worth $2,944,700 in the last ninety days. Insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RKLB. Wells Fargo & Company boosted their price target on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. KeyCorp boosted their price target on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald boosted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Bank of America boosted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus boosted their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. 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’s stock. According to data from MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Stock Down 6.8 %

RKLB stock opened at $23.55 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business has a fifty day simple moving average of $27.10 and a 200-day simple moving average of $17.14. 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.