Stratos Wealth Partners LTD. Purchases Shares of 50,275 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Stratos Wealth Partners LTD. acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 50,275 shares of the rocket manufacturer’s stock, valued at approximately $1,281,000.

A number of other institutional investors have also recently added to or reduced their stakes in RKLB. Citigroup Inc. grew its position 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 acquiring an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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. Geode Capital Management LLC increased its position 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 worth $80,317,000 after purchasing an additional 898,223 shares during the last quarter. FORA Capital LLC acquired a new position in shares of Rocket Lab USA during the 3rd quarter worth $449,000. Finally, National Bank of Canada FI lifted its holdings in Rocket Lab USA by 149.2% in the 3rd 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 last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Down 1.0 %

Shares of NASDAQ:RKLB opened at $27.41 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock’s 50-day moving average is $26.33 and its 200 day moving average is $15.80. The company has a market cap of $13.70 billion, a PE ratio of -74.08 and a beta of 1.99. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34.

Insider Buying and Selling at Rocket Lab USA

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 sale, the director now 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares in the company, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,124,530 shares of company stock worth $38,404,700. 13.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on RKLB. KeyCorp boosted their price objective on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Bank of America raised their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.28.

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.