Udine Wealth Management Inc. Buys New Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Udine Wealth Management Inc. purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,705 shares of the rocket manufacturer’s stock, valued at approximately $1,342,000. Rocket Lab USA makes up about 0.9% of Udine Wealth Management Inc.’s holdings, making the stock its 28th largest position.

A number of other institutional investors also recently bought and sold shares of RKLB. American Century Companies Inc. raised its position in shares of Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after acquiring an additional 284,360 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Rocket Lab USA in the second quarter valued at approximately $140,000. Amalgamated Bank raised its holdings in Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of Rocket Lab USA during the 2nd quarter worth approximately $5,469,000. Finally, DRW Securities LLC acquired a new position in shares of Rocket Lab USA in the 2nd quarter valued at $125,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

Rocket Lab USA stock opened at $24.00 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 50 day simple moving average of $24.05 and a 200-day simple moving average of $13.32. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $30.26.

Analysts Set New Price Targets

Several brokerages recently commented on RKLB. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. KeyCorp boosted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company raised 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. Citigroup boosted 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. Finally, Stifel Nicolaus increased their price objective 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 equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.61.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the sale, the general counsel now owns 608,996 shares in the company, valued at approximately $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by company insiders.

About Rocket Lab USA

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.