Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Aries Wealth Management

Aries Wealth Management lowered its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 38.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,038 shares of the rocket manufacturer's stock after selling 19,436 shares during the quarter. Aries Wealth Management's holdings in Rocket Lab USA were worth $791,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its position 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 acquiring an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock valued at $28,006,000 after purchasing an additional 532,207 shares during the period. Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA in the 3rd quarter valued at approximately $8,930,000. Citigroup Inc. grew 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 valued at $6,727,000 after buying an additional 220,432 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $2,651,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Rocket Lab USA Stock Performance

Shares of RKLB traded down $0.28 during mid-day trading on Monday, hitting $28.02. 15,154,841 shares of the company's stock were exchanged, compared to its average volume of 18,918,424. The firm has a market capitalization of $14.01 billion, a P/E ratio of -75.73 and a beta of 1.99. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The business's 50 day moving average is $26.80 and its two-hundred day moving average is $16.69. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RKLB shares. Citigroup increased their price objective 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. 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. KeyCorp raised their target price on Rocket Lab USA from $27.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Finally, Cantor Fitzgerald raised their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.28.

Insider Buying and Selling

In related news, Director Nina Armagno sold 10,000 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares in the company, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander R. Slusky sold 50,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now owns 534,675 shares in the company, valued at $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,530 shares of company stock valued at $2,944,700 over the last three months. 13.70% of the stock is currently owned by company insiders.

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.