CHURCHILL MANAGEMENT Corp Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

CHURCHILL MANAGEMENT Corp bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 69,004 shares of the rocket manufacturer’s stock, valued at approximately $1,758,000.

Several other large investors also recently bought and sold shares of RKLB. Rhumbline Advisers raised its stake in Rocket Lab USA by 24.2% in the 2nd quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock worth $2,305,000 after acquiring an additional 93,447 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after purchasing an additional 284,360 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Rocket Lab USA during the second quarter worth about $140,000. Amalgamated Bank lifted its holdings in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the period. Finally, Ieq Capital LLC purchased a new stake in Rocket Lab USA in the second quarter valued at approximately $5,469,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $24.64 on Friday. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of -66.59 and a beta of 1.98. The stock has a 50-day moving average of $23.84 and a 200 day moving average of $13.13. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $30.26.

Insider Transactions at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction dated 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 in the company, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock valued at $38,168,400 in the last three months. 13.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on RKLB shares. Wells Fargo & Company raised their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Bank of America boosted their target price on shares of 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 increased their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus upped their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.61.

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.