WJ Wealth Management LLC Takes $235,000 Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

WJ Wealth Management LLC acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,240 shares of the rocket manufacturer’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Rocket Lab USA by 21.2% in the second quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer’s stock worth $985,000 after buying an additional 35,849 shares during the period. Algert Global LLC purchased a new position in Rocket Lab USA during the second quarter valued at approximately $154,000. Creative Planning lifted its holdings in Rocket Lab USA by 63.3% during the second quarter. Creative Planning now owns 60,043 shares of the rocket manufacturer’s stock valued at $288,000 after purchasing an additional 23,264 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Rocket Lab USA by 24.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,334 shares of the rocket manufacturer’s stock worth $131,000 after purchasing an additional 5,332 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $76,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Price Performance

Shares of RKLB stock opened at $28.38 on Tuesday. The stock has a 50 day moving average price of $26.07 and a 200 day moving average price of $15.07. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RKLB shares. Citigroup upped their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Stifel Nicolaus increased their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. KeyCorp boosted their price target on Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Bank of America upped their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and an average price target of $22.28.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction 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 sale, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 over the last quarter. Company insiders own 13.70% of the company’s stock.

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.