Accordant Advisory Group Inc Reduces Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Accordant Advisory Group Inc reduced its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 17.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,800 shares of the rocket manufacturer’s stock after selling 1,000 shares during the quarter. Accordant Advisory Group Inc’s holdings in Rocket Lab USA were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of RKLB. Geode Capital Management LLC lifted its stake in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after buying an additional 532,207 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA during the 3rd quarter valued at $8,930,000. Citigroup Inc. raised its position in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after buying an additional 220,432 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Rocket Lab USA during the 3rd quarter valued at $2,651,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. Corporate insiders own 13.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on RKLB shares. Cantor Fitzgerald raised their price objective 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. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Citigroup increased their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Bank of America increased their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.06.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $28.98 on Wednesday. The firm’s 50-day moving average price is $25.49 and its 200-day moving average price is $14.41. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34.

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.