Aries Wealth Management Trims Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Aries Wealth Management lowered its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 38.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,038 shares of the rocket manufacturer’s stock after selling 19,436 shares during the period. Aries Wealth Management’s holdings in Rocket Lab USA were worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $40,000. New Millennium Group LLC increased its stake in Rocket Lab USA by 105.0% in 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 during the period. Sanctuary Advisors LLC purchased a new stake in Rocket Lab USA in the second quarter worth $76,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Rocket Lab USA during the fourth quarter worth $76,000. Finally, Allworth Financial LP boosted its stake in shares of Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 8,992 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several recent analyst reports. Citigroup raised their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Cantor Fitzgerald raised their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. KeyCorp lifted their price target on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lifted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. 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 company. Based on data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Stock Up 2.5 %

NASDAQ:RKLB opened at $28.30 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $33.34. The firm has a fifty day simple moving average of $26.65 and a 200-day simple moving average of $16.29.

Insider Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,530 shares of company stock worth $2,944,700 in the last 90 days. Insiders own 13.70% of the company’s stock.

Rocket Lab USA 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.