FORA Capital LLC Buys New Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB)

FORA Capital LLC acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the third quarter, Holdings Channel.com reports. The firm acquired 46,140 shares of the rocket manufacturer’s stock, valued at approximately $449,000.

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in Rocket Lab USA by 1,827.6% in the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after buying an additional 8,992 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Rocket Lab USA in the 2nd quarter worth $46,000. Baxter Bros Inc. purchased a new stake in Rocket Lab USA during the second quarter valued at about $48,000. Smith Anglin Financial LLC bought a new position in shares of Rocket Lab USA during the third quarter valued at about $104,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after buying an additional 4,032 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Arjun Kampani sold 28,562 shares of the business’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 sale, the general counsel now directly owns 608,996 shares of the company’s stock, valued at $14,707,253.40. The trade was a 4.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,064,530 shares of company stock worth $37,018,400 in the last quarter. 13.70% of the stock is owned by company insiders.

Rocket Lab USA Price Performance

Shares of RKLB opened at $25.67 on Friday. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $27.20. The company has a 50-day simple moving average of $13.26 and a two-hundred day simple moving average of $8.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of analyst reports. Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald boosted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, KeyCorp boosted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average price target of $16.50.

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.