Handelsbanken Fonder AB Has $2.06 Million Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Handelsbanken Fonder AB lifted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 12.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,800 shares of the rocket manufacturer’s stock after acquiring an additional 9,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Rocket Lab USA were worth $2,058,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA during the 4th quarter worth about $40,000. New Millennium Group LLC increased its stake in shares of 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 purchasing an additional 1,050 shares during the period. Global Retirement Partners LLC acquired a new stake in Rocket Lab USA during the 4th quarter worth approximately $58,000. Newbridge Financial Services Group Inc. acquired a new position in Rocket Lab USA in the 4th quarter valued at $76,000. Finally, Allworth Financial LP grew its holdings in Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 8,992 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $20.28 on Wednesday. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of -54.81 and a beta of 1.99. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The stock has a fifty day simple moving average of $26.90 and a 200 day simple moving average of $17.68.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at $12,297,525. This represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of analyst reports. Citigroup increased their target price 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. Wells Fargo & Company increased their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. KeyCorp boosted their price target on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus upped 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. Finally, Cantor Fitzgerald raised their price target 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

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.