Udine Wealth Management Inc. Invests $1.34 Million in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Udine Wealth Management Inc. acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 52,705 shares of the rocket manufacturer’s stock, valued at approximately $1,342,000. Rocket Lab USA comprises about 0.9% of Udine Wealth Management Inc.’s holdings, making the stock its 28th largest holding.

Other large investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its stake in Rocket Lab USA by 3.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer’s stock worth $2,340,000 after purchasing an additional 3,479 shares in the last quarter. Connective Portfolio Management LLC purchased a new position in Rocket Lab USA during the fourth quarter worth approximately $586,000. CHURCHILL MANAGEMENT Corp acquired a new position in Rocket Lab USA during the fourth quarter worth $1,758,000. Smith Anglin Financial LLC grew its holdings in Rocket Lab USA by 10.3% in the 4th quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer’s stock valued at $299,000 after buying an additional 1,096 shares in the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Rocket Lab USA in the 4th quarter worth $754,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RKLB has been the topic of several recent research reports. KeyCorp boosted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup increased their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Cantor Fitzgerald raised their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company raised their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.61.

Insiders Place Their Bets

In other news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock worth $38,168,400 over the last three months. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Performance

RKLB opened at $24.00 on Friday. The stock’s 50-day moving average price is $24.05 and its 200 day moving average price is $13.32. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $30.26. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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.