K.J. Harrison & Partners Inc Buys 40,000 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

K.J. Harrison & Partners Inc boosted its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 100.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,000 shares of the rocket manufacturer’s stock after buying an additional 40,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Rocket Lab USA were worth $1,997,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RKLB. Geode Capital Management LLC raised its holdings in shares of Rocket Lab USA by 12.2% in the third 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 last quarter. Charles Schwab Investment Management Inc. grew 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 purchasing an additional 532,207 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Rocket Lab USA by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,121,024 shares of the rocket manufacturer’s stock valued at $28,552,000 after buying an additional 28,618 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Rocket Lab USA during the 3rd quarter worth approximately $8,930,000. Finally, Citigroup Inc. boosted its stake in shares of Rocket Lab USA by 46.8% in the 3rd 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 during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the sale, the director now owns 132,294 shares in the company, valued at $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction 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 completion of the transaction, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RKLB. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Bank of America raised their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Citigroup boosted their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company raised their price objective 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. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday. Five research 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $21.25 on Thursday. The firm has a market capitalization of $10.62 billion, a PE ratio of -57.43 and a beta of 1.99. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average price of $26.86 and a two-hundred day moving average price of $17.70. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34.

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.