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

Schneider Downs Wealth Management Advisors LP purchased a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA during the third quarter valued at approximately $8,930,000. Intellectus Partners LLC increased its position in shares of Rocket Lab USA by 20.8% during the third quarter. Intellectus Partners LLC now owns 76,825 shares of the rocket manufacturer’s stock worth $748,000 after purchasing an additional 13,222 shares in the last quarter. Pier 88 Investment Partners LLC acquired a new position in Rocket Lab USA in the 3rd quarter valued at $1,572,000. Victory Capital Management Inc. lifted its holdings in Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Verus Capital Partners LLC boosted its stake in Rocket Lab USA by 42.7% during the 3rd quarter. Verus Capital Partners LLC now owns 47,310 shares of the rocket manufacturer’s stock worth $460,000 after purchasing an additional 14,150 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Price Performance

Shares of RKLB opened at $19.00 on Friday. The firm has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $6.87. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $22.55. The company has a current ratio of 2.58, a quick ratio of 2.43 and a debt-to-equity ratio of 0.97.

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 62,512 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 $435,083.52. Following the transaction, the chief financial officer now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’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 $198,798.48. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,521 shares of company stock valued at $906,059. Company insiders own 13.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RKLB shares. Citigroup raised their price target on shares of Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group increased 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. Stifel Nicolaus boosted their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price target on Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Bank of America boosted 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. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.72.

Rocket Lab USA Company 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.