Connective Portfolio Management LLC Makes New $586,000 Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Connective Portfolio Management LLC bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 23,000 shares of the rocket manufacturer’s stock, valued at approximately $586,000.

Other large investors also recently modified their holdings of the company. Smith Anglin Financial LLC lifted its position in Rocket Lab USA by 10.3% during the fourth quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer’s stock worth $299,000 after purchasing an additional 1,096 shares during the period. Victory Capital Management Inc. raised its position in shares of Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after buying an additional 1,709 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the period. Lakeridge Wealth Management LLC boosted its position in shares of Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Rocket Lab USA by 28.7% in the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after acquiring an additional 3,220 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Price Performance

NASDAQ RKLB opened at $24.87 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $30.26. The stock has a fifty day simple moving average of $23.61 and a 200 day simple moving average of $13.05.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RKLB. The Goldman Sachs Group upped their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Bank of America raised their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus boosted 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. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Citigroup lifted their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.44.

About Rocket Lab USA

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.