Handelsbanken Fonder AB Buys 9,100 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Handelsbanken Fonder AB boosted its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,800 shares of the rocket manufacturer’s stock after acquiring an additional 9,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Rocket Lab USA were worth $2,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Creative Planning increased its position in Rocket Lab USA by 39.1% during the 3rd quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer’s stock valued at $813,000 after purchasing an additional 23,504 shares during the period. International Assets Investment Management LLC lifted its position in Rocket Lab USA by 934.5% during the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock valued at $10,090,000 after acquiring an additional 88,686 shares during the period. Allworth Financial LP lifted 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 last quarter. Van ECK Associates Corp raised its stake in Rocket Lab USA by 33.1% during the third quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer’s stock valued at $1,275,000 after buying an additional 32,618 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new position in shares of Rocket Lab USA in the 3rd quarter worth about $146,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock opened at $20.28 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $10.14 billion, a PE ratio of -54.81 and a beta of 1.99. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $33.34. The stock has a 50 day moving average of $26.90 and a 200 day moving average of $17.68.

Insider Buying and Selling

In related news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now directly owns 132,294 shares in the company, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RKLB shares. Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Wells Fargo & Company raised their target price on 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. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Citigroup upped 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. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and a consensus target price of $22.28.

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.