Hennion & Walsh Asset Management Inc. Acquires 3,479 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Hennion & Walsh Asset Management Inc. raised its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,872 shares of the rocket manufacturer’s stock after purchasing an additional 3,479 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Rocket Lab USA were worth $2,340,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Amalgamated Bank lifted its stake in shares of Rocket Lab USA by 26.7% during the second 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 period. Sanctuary Advisors LLC acquired a new position in shares of Rocket Lab USA during the second quarter valued at $76,000. Allworth Financial LP lifted its stake in shares of Rocket Lab USA by 1,827.6% during the third 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 period. Smith Anglin Financial LLC acquired a new position in shares of Rocket Lab USA during the third quarter valued at $104,000. Finally, Xponance Inc. lifted its stake in shares of Rocket Lab USA by 29.1% during the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock valued at $106,000 after acquiring an additional 4,997 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Down 2.6 %

Shares of Rocket Lab USA stock opened at $24.00 on Friday. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $30.26. The business has a 50-day moving average of $24.05 and a two-hundred day moving average of $13.26. The company has a market capitalization of $12.00 billion, a P/E ratio of -64.86 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Analyst Ratings Changes

RKLB has been the topic of several research reports. Citigroup upped their price target 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. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. KeyCorp upped their price objective 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 upped their price objective 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. Finally, Bank of America upped their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Five equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.61.

Insider Buying and Selling

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by corporate 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.