Schneider Downs Wealth Management Advisors LP Invests $107,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Schneider Downs Wealth Management Advisors LP acquired a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,000 shares of the rocket manufacturer’s stock, valued at approximately $107,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Rocket Lab USA in the second quarter valued at approximately $46,000. Baxter Bros Inc. purchased a new position in Rocket Lab USA in the second quarter worth approximately $48,000. Amalgamated Bank grew its holdings in Rocket Lab USA by 26.7% during 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. Finally, CIBC Asset Management Inc acquired a new position in Rocket Lab USA during the 2nd quarter worth approximately $67,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Citigroup raised their price target on Rocket Lab USA from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company upped their price objective on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Bank of America boosted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.72.

Rocket Lab USA Trading Up 9.4 %

NASDAQ:RKLB opened at $19.00 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.43 and a current ratio of 2.58. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $22.55. The stock’s 50 day moving average price is $10.38 and its 200 day moving average price is $6.87.

Insider Activity

In other news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. This trade represents a 4.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by company 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.