Florida Financial Advisors LLC Buys 9,728 Shares of Rocket Lab Corporation $RKLB

Florida Financial Advisors LLC lifted its stake in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 62.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,285 shares of the rocket manufacturer’s stock after purchasing an additional 9,728 shares during the period. Florida Financial Advisors LLC’s holdings in Rocket Lab were worth $1,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RKLB. Cookson Peirce & Co. Inc. purchased a new stake in Rocket Lab in the third quarter worth about $318,000. Metis Global Partners LLC bought a new position in shares of Rocket Lab in the 3rd quarter worth approximately $690,000. Abich Financial Wealth Management LLC purchased a new position in shares of Rocket Lab in the 3rd quarter valued at approximately $48,000. Cibc World Market Inc. bought a new stake in shares of Rocket Lab during the third quarter valued at approximately $370,000. Finally, Rhumbline Advisers grew its stake in Rocket Lab by 18.7% in the third quarter. Rhumbline Advisers now owns 519,934 shares of the rocket manufacturer’s stock worth $24,910,000 after purchasing an additional 81,906 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Nicolaus raised their price objective on Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. The Goldman Sachs Group upped their price objective on shares of Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Zacks Research cut Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Needham & Company LLC raised their price objective on Rocket Lab from $63.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and an average price target of $72.92.

Read Our Latest Report on RKLB

Insider Buying and Selling

In other Rocket Lab news, Director Merline Saintil sold 12,500 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $90.00, for a total value of $1,125,000.00. Following the completion of the transaction, the director owned 280,029 shares of the company’s stock, valued at approximately $25,202,610. The trade was a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nina Armagno sold 27,314 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $68.21, for a total transaction of $1,863,087.94. Following the sale, the director directly owned 108,940 shares in the company, valued at approximately $7,430,797.40. The trade was a 20.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,306,150 shares of company stock worth $271,865,732 in the last three months. 11.90% of the stock is currently owned by company insiders.

Rocket Lab Stock Up 2.2%

Rocket Lab stock opened at $67.44 on Friday. Rocket Lab Corporation has a 12 month low of $14.71 and a 12 month high of $99.58. The stock has a fifty day simple moving average of $75.54 and a two-hundred day simple moving average of $59.17. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. The firm has a market cap of $36.02 billion, a price-to-earnings ratio of -177.47 and a beta of 2.16.

Key Stories Impacting Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

Rocket Lab Profile

(Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

See Also

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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