11,230 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, Holdings Channel reports. The fund purchased 11,230 shares of the rocket manufacturer’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RKLB. Citigroup Inc. lifted its holdings in shares of Rocket Lab USA by 46.8% during 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. Charles Schwab Investment Management Inc. raised 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 purchasing an additional 532,207 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. FORA Capital LLC acquired a new position in shares of Rocket Lab USA during the 3rd quarter worth approximately $449,000. Finally, National Bank of Canada FI increased its holdings in shares of Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after purchasing an additional 30,178 shares during the period. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Price Performance

Shares of RKLB opened at $27.95 on Wednesday. The firm has a market cap of $13.97 billion, a PE ratio of -75.54 and a beta of 1.98. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $30.26. The business’s 50 day moving average price is $21.58 and its two-hundred day moving average price is $12.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Insider Activity

In other news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Arjun Kampani sold 28,562 shares of the company’s 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 transaction, 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 ownership of the stock. 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 quarter. 13.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Cantor Fitzgerald increased their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, KeyCorp increased their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus price target of $17.44.

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.