QRG Capital Management Inc. Buys Shares of 131,562 Rocket Lab USA, Inc. (NASDAQ:RKLB)

QRG Capital Management Inc. bought a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 131,562 shares of the rocket manufacturer's stock, valued at approximately $3,351,000.

Other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in shares of Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock valued at $6,727,000 after purchasing an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 worth $28,006,000 after purchasing an additional 532,207 shares during the period. Geode Capital Management LLC boosted its stake in Rocket Lab USA by 12.2% during 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 during the period. FORA Capital LLC acquired a new stake in Rocket Lab USA during the 3rd quarter worth $449,000. Finally, National Bank of Canada FI boosted its stake in Rocket Lab USA by 149.2% during the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer's stock worth $490,000 after purchasing an additional 30,178 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup decreased their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday. Wells Fargo & Company increased their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 11th. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, 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 note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.61.

Rocket Lab USA Price Performance

NASDAQ:RKLB traded up $0.61 during mid-day trading on Friday, hitting $20.44. 37,408,315 shares of the company's stock traded hands, compared to its average volume of 20,412,555. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm's 50 day simple moving average is $26.71 and its 200 day simple moving average is $17.91. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The company has a market cap of $10.22 billion, a PE ratio of -55.25 and a beta of 1.99.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction that occurred on 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 $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, December 11th. The shares were 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 in the company, valued at approximately $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.

About Rocket Lab USA

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.