Zweig DiMenna Associates LLC Makes New $4.73 Million Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Zweig DiMenna Associates LLC purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 185,500 shares of the rocket manufacturer’s stock, valued at approximately $4,725,000.

Other hedge funds have also made changes to their positions in the company. Amalgamated Bank grew its position in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Rocket Lab USA in the second quarter worth $76,000. Allworth Financial LP grew its holdings 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 buying an additional 8,992 shares in the last quarter. Smith Anglin Financial LLC acquired a new position in Rocket Lab USA during the third quarter valued at $104,000. Finally, Xponance Inc. boosted its position in Rocket Lab USA by 29.1% during the 2nd quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock worth $106,000 after acquiring an additional 4,997 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $32.68 on Friday. The firm has a market capitalization of $16.34 billion, a PE ratio of -88.31 and a beta of 1.98. 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 1 year low of $3.47 and a 1 year high of $33.25. The firm’s fifty day simple moving average is $24.78 and its 200 day simple moving average is $13.82.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RKLB shares. The Goldman Sachs Group upped their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Stifel Nicolaus lifted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. KeyCorp boosted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Bank of America raised their price target 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. Finally, Cantor Fitzgerald upped their price objective 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. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.06.

Insider Activity

In related news, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the sale, the general counsel now directly owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by 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.