Tempus Wealth Planning LLC Acquires New Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Tempus Wealth Planning LLC bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 8,413 shares of the rocket manufacturer’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after buying an additional 532,207 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Rocket Lab USA in the 3rd quarter worth $8,930,000. Citigroup Inc. increased its holdings in shares of Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Rocket Lab USA during the 3rd quarter valued at $2,651,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $28.68 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The firm has a market cap of $14.34 billion, a PE ratio of -77.51 and a beta of 1.99. The business has a 50 day moving average price of $26.16 and a 200-day moving average price of $15.23.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RKLB shares. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Cantor Fitzgerald increased their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. KeyCorp boosted their target price on Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus lifted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Five investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.28.

Insider Activity at Rocket Lab USA

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