AlphaCentric Advisors LLC Boosts Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

AlphaCentric Advisors LLC boosted its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 66.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 25,000 shares of the rocket manufacturer's stock after acquiring an additional 10,000 shares during the quarter. AlphaCentric Advisors LLC's holdings in Rocket Lab USA were worth $637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its stake in shares of Rocket Lab USA by 0.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after purchasing an additional 334 shares during the last quarter. New Millennium Group LLC increased its holdings in Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock worth $52,000 after buying an additional 1,050 shares during the period. Smith Anglin Financial LLC raised its position in Rocket Lab USA by 10.3% during the 4th quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer's stock worth $299,000 after buying an additional 1,096 shares during the last quarter. Spire Wealth Management lifted its stake in Rocket Lab USA by 14.0% during the 4th quarter. Spire Wealth Management now owns 11,400 shares of the rocket manufacturer's stock valued at $290,000 after acquiring an additional 1,400 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 35,968 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 transaction of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $689,772.30. Following the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,530 shares of company stock worth $2,944,700. Company insiders own 13.70% of the company's stock.

Rocket Lab USA Price Performance

Shares of RKLB stock traded down $0.67 during trading hours on Thursday, hitting $25.26. 22,819,428 shares of the company's stock were exchanged, compared to its average volume of 19,799,313. The firm has a 50 day moving average of $27.05 and a two-hundred day moving average of $17.08. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The firm has a market cap of $12.63 billion, a P/E ratio of -68.27 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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RKLB shares. Citigroup boosted their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Bank of America boosted their price objective on 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 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. Cantor Fitzgerald boosted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company upped their price objective 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. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.28.

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.