Thompson Davis & CO. Inc. Decreases Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Thompson Davis & CO. Inc. reduced its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 34.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,700 shares of the rocket manufacturer’s stock after selling 4,498 shares during the period. Thompson Davis & CO. Inc.’s holdings in Rocket Lab USA were worth $222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its position in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after buying an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Lab USA by 22.7% during the third 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of Rocket Lab USA by 12.2% during 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. FORA Capital LLC bought a new position in shares of Rocket Lab USA during the third quarter worth about $449,000. Finally, National Bank of Canada FI lifted its position 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 last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction 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 completion of the transaction, the general counsel now owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,530 shares of company stock worth $2,944,700. Company insiders own 13.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on RKLB shares. KeyCorp increased their price target on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Citigroup increased their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Bank of America raised their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Trading Down 6.8 %

Shares of NASDAQ RKLB opened at $23.55 on Friday. The firm’s 50-day moving average price is $27.10 and its two-hundred day moving average price is $17.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34.

Rocket Lab USA 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.