Centiva Capital LP Buys New Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Centiva Capital LP purchased a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,971 shares of the rocket manufacturer’s stock, valued at approximately $116,000.

A number of other institutional investors have also recently made changes to their positions in RKLB. Verition Fund Management LLC purchased a new stake in Rocket Lab USA during the third quarter valued at about $325,000. Rockefeller Capital Management L.P. increased its position in shares of Rocket Lab USA by 5.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 241,472 shares of the rocket manufacturer’s stock valued at $2,350,000 after purchasing an additional 12,753 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Rocket Lab USA during the 3rd quarter valued at about $449,000. D.A. Davidson & CO. bought a new stake in Rocket Lab USA in the 3rd quarter worth approximately $116,000. Finally, Citigroup Inc. boosted its stake in Rocket Lab USA by 46.8% in the third 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 in the last quarter. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling

In related news, insider Frank Klein sold 35,968 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA 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 sale, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 over the last quarter. 13.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JMP Securities started coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Citigroup boosted their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald raised their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA Price Performance

Shares of RKLB stock opened at $24.42 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. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $28.10. The firm has a market cap of $12.21 billion, a P/E ratio of -66.00 and a beta of 1.96. The business’s 50 day moving average price is $16.28 and its 200-day moving average price is $9.41.

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.