Rocket Lab Corporation $RKLB Shares Bought by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC grew its stake in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 38.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,475 shares of the rocket manufacturer’s stock after acquiring an additional 52,799 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Rocket Lab were worth $13,218,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RKLB. Wilmington Savings Fund Society FSB acquired a new stake in Rocket Lab during the third quarter valued at approximately $25,000. Hara Capital LLC acquired a new stake in Rocket Lab during the third quarter valued at approximately $25,000. Aventura Private Wealth LLC acquired a new stake in Rocket Lab during the fourth quarter valued at approximately $25,000. UMB Bank n.a. raised its stake in Rocket Lab by 352.5% during the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after buying an additional 423 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in Rocket Lab during the third quarter valued at approximately $27,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rocket Lab

In other news, insider Frank Klein sold 36,768 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total transaction of $2,645,457.60. Following the sale, the insider directly owned 1,088,237 shares in the company, valued at approximately $78,298,652.15. This represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Arjun Kampani sold 23,711 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total value of $1,706,006.45. Following the sale, the senior vice president owned 397,988 shares in the company, valued at $28,635,236.60. The trade was a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 341,949 shares of company stock worth $25,923,913. Corporate insiders own 11.90% of the company’s stock.

Rocket Lab Stock Up 4.2%

Shares of Rocket Lab stock opened at $69.08 on Thursday. The company has a current ratio of 4.08, a quick ratio of 3.61 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $70.31 and its 200-day simple moving average is $65.47. The stock has a market capitalization of $39.20 billion, a price-to-earnings ratio of -186.70 and a beta of 2.20. Rocket Lab Corporation has a twelve month low of $17.20 and a twelve month high of $99.58.

Analyst Ratings Changes

Several brokerages have issued reports on RKLB. KeyCorp cut Rocket Lab from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 15th. Citizens Jmp upgraded Rocket Lab from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Tuesday. Wells Fargo & Company began coverage on Rocket Lab in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective on the stock. TD Cowen restated a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Rocket Lab in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.85.

Read Our Latest Report on RKLB

More Rocket Lab News

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Rocket Lab Company Profile

(Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

See Also

Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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