Entropy Technologies LP Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Entropy Technologies LP acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,000 shares of the rocket manufacturer’s stock, valued at approximately $1,044,000.

A number of other hedge funds have also recently made changes to their positions in the stock. New Millennium Group LLC lifted its stake in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after purchasing an additional 1,050 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Rocket Lab USA in the 2nd quarter valued at $76,000. Allworth Financial LP lifted its stake in Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 8,992 shares in the last quarter. Arete Wealth Advisors LLC purchased a new position in Rocket Lab USA during the 3rd quarter valued at about $106,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new position in Rocket Lab USA in the 3rd quarter valued at about $107,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RKLB shares. Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America increased their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Citigroup increased their price objective on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Five equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $30.60 on Tuesday. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm has a market capitalization of $15.30 billion, a PE ratio of -82.70 and a beta of 1.99. The business’s fifty day moving average price is $26.33 and its 200 day moving average price is $15.87.

Insider Transactions at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. The trade was 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 available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,124,530 shares of company stock valued at $38,404,700. 13.70% of the stock is currently owned by corporate insiders.

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.