Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Aries Wealth Management

Aries Wealth Management reduced its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 38.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 31,038 shares of the rocket manufacturer’s stock after selling 19,436 shares during the quarter. Aries Wealth Management’s holdings in Rocket Lab USA were worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA during the 4th quarter valued at about $40,000. New Millennium Group LLC boosted its holdings in Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after buying an additional 1,050 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Rocket Lab USA in the 2nd quarter worth about $76,000. Newbridge Financial Services Group Inc. purchased a new stake in Rocket Lab USA during the 4th quarter worth approximately $76,000. Finally, Allworth Financial LP raised its holdings in shares of Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after acquiring an additional 8,992 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the transaction, the director now owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the sale, the general counsel now owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,530 shares of company stock valued at $2,944,700. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Performance

RKLB stock opened at $28.30 on Friday. 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 company’s 50-day moving average price is $26.65 and its 200 day moving average price is $16.29. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 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 boosted their price target 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. KeyCorp increased their price objective on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group lifted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.