CHURCHILL MANAGEMENT Corp Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

CHURCHILL MANAGEMENT Corp bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 69,004 shares of the rocket manufacturer’s stock, valued at approximately $1,758,000.

A number of other hedge funds have also recently modified their holdings of the business. Smith Anglin Financial LLC boosted its holdings 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 valued at $299,000 after acquiring an additional 1,096 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter worth $754,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at $2,395,000. Everence Capital Management Inc. bought a new position in shares of Rocket Lab USA in the fourth quarter worth about $286,000. Finally, Franklin Resources Inc. purchased a new position in Rocket Lab USA in the 3rd quarter worth about $107,000. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Down 0.9 %

Shares of NASDAQ RKLB opened at $24.64 on Friday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $30.26. The business has a fifty day moving average price of $23.84 and a 200 day moving average price of $13.13. The stock has a market capitalization of $12.32 billion, a P/E ratio of -66.59 and a beta of 1.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Analyst Ratings Changes

RKLB has been the subject of several research reports. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Bank of America increased 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. Citigroup raised their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Cantor Fitzgerald upped their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus raised their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Five investment 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 data from MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average target price of $18.61.

Insiders Place Their Bets

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 shares of the firm’s 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 completion of the sale, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by corporate 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.