Newbridge Financial Services Group Inc. Invests $76,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Newbridge Financial Services Group Inc. acquired a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,000 shares of the rocket manufacturer’s stock, valued at approximately $76,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its holdings in shares of Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after buying an additional 334 shares during the last quarter. New Millennium Group LLC increased its stake in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after acquiring an additional 1,050 shares during the last quarter. Smith Anglin Financial LLC raised its holdings in shares of Rocket Lab USA by 10.3% in the 4th 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. Spire Wealth Management lifted its stake in shares of Rocket Lab USA by 14.0% in the 4th quarter. Spire Wealth Management now owns 11,400 shares of the rocket manufacturer’s stock valued at $290,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake 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 purchasing an additional 1,709 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Stock Up 11.6 %

Shares of NASDAQ RKLB opened at $30.60 on Tuesday. 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 1 year low of $3.47 and a 1 year high of $33.34. The stock’s 50-day simple moving average is $26.33 and its 200-day simple moving average is $15.87. The firm has a market cap of $15.30 billion, a price-to-earnings ratio of -82.70 and a beta of 1.99.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the stock in a transaction on 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 $3,126,107.22. This represents a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,124,530 shares of company stock worth $38,404,700 in the last 90 days. 13.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RKLB. KeyCorp increased their target price on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus raised their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America boosted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average price target of $22.28.

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.