Van ECK Associates Corp Buys 32,618 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Van ECK Associates Corp boosted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 33.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,076 shares of the rocket manufacturer’s stock after buying an additional 32,618 shares during the quarter. Van ECK Associates Corp’s holdings in Rocket Lab USA were worth $1,275,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the period. Ieq Capital LLC bought a new stake in shares of Rocket Lab USA in the second quarter valued at about $5,469,000. Tocqueville Asset Management L.P. lifted its stake in Rocket Lab USA by 217.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock worth $5,277,000 after acquiring an additional 879,160 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after acquiring an additional 432,501 shares in the last quarter. Finally, ARK Investment Management LLC increased its position in Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after purchasing an additional 391,778 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA 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 completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock valued at $906,059 in the last three months. 13.70% of the stock is owned by insiders.

Rocket Lab USA Trading Up 9.4 %

Rocket Lab USA stock opened at $14.78 on Tuesday. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $15.24. The stock has a market cap of $7.34 billion, a PE ratio of -42.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The stock has a 50-day moving average of $9.30 and a two-hundred day moving average of $6.45.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 30th. The Goldman Sachs Group increased their target price on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Citigroup boosted their price target on Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley downgraded shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.75.

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.