Accordant Advisory Group Inc Has $122,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Accordant Advisory Group Inc decreased its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 17.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,800 shares of the rocket manufacturer’s stock after selling 1,000 shares during the period. Accordant Advisory Group Inc’s holdings in Rocket Lab USA were worth $122,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in Rocket Lab USA by 478.6% in the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock valued at $177,000 after buying an additional 5,762 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Rocket Lab USA by 134.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer’s stock valued at $237,000 after purchasing an additional 5,325 shares during the period. Allworth Financial LP raised its holdings in shares of Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 8,992 shares during the period. Smith Anglin Financial LLC acquired a new position in shares of Rocket Lab USA during the third quarter valued at about $104,000. Finally, Franklin Resources Inc. acquired a new position in shares of Rocket Lab USA during the third quarter valued at about $107,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RKLB. Citigroup upped their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus upped their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. KeyCorp upped their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.06.

Rocket Lab USA Stock Down 1.5 %

Shares of RKLB stock opened at $28.98 on Wednesday. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. 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 simple moving average of $25.49 and a two-hundred day simple moving average of $14.41.

Insiders Place Their Bets

In other news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the transaction, the general counsel now directly owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. Corporate insiders own 13.70% of the company’s stock.

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.