Sanders Morris Harris LLC Sells 7,000 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Sanders Morris Harris LLC lowered its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 19.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,300 shares of the rocket manufacturer’s stock after selling 7,000 shares during the quarter. Sanders Morris Harris LLC’s holdings in Rocket Lab USA were worth $770,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RKLB. Rhumbline Advisers grew its stake in Rocket Lab USA by 24.2% in the second quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock worth $2,305,000 after purchasing an additional 93,447 shares in the last quarter. Arizona State Retirement System lifted its holdings in Rocket Lab USA by 21.2% during the second quarter. Arizona State Retirement System now owns 89,008 shares of the rocket manufacturer’s stock worth $427,000 after buying an additional 15,565 shares during the period. American Century Companies Inc. boosted its position in Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after acquiring an additional 284,360 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Rocket Lab USA in the 2nd quarter valued at $140,000. Finally, Amalgamated Bank raised its position in shares of Rocket Lab USA by 26.7% in 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 in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $24.46 on Thursday. The business has a fifty day moving average of $23.61 and a 200 day moving average of $13.05. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $30.26. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of -66.11 and a beta of 1.98.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RKLB shares. Wells Fargo & Company raised their price objective on 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. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald increased their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Citigroup upped their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus raised their price objective 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. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.44.

Insider Activity

In other news, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the 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 owns 534,675 shares in the company, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 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.