Raymond James Financial Inc. acquired a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 225,666 shares of the rocket manufacturer's stock, valued at approximately $5,748,000.
Several other hedge funds have also recently bought and sold shares of the company. Promus Capital LLC purchased a new position in shares of Rocket Lab USA in the fourth quarter valued at $885,000. Arizona State Retirement System raised its position in Rocket Lab USA by 10.1% during the fourth quarter. Arizona State Retirement System now owns 93,724 shares of the rocket manufacturer's stock worth $2,387,000 after acquiring an additional 8,589 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $1,564,000. Victory Capital Management Inc. grew its position in shares of Rocket Lab USA by 11.9% in the fourth quarter. Victory Capital Management Inc. now owns 45,403 shares of the rocket manufacturer's stock valued at $1,156,000 after purchasing an additional 4,816 shares during the last quarter. Finally, Torray Investment Partners LLC purchased a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $229,000. 71.78% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have commented on RKLB. The Goldman Sachs Group increased 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. Morgan Stanley boosted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. KeyCorp lowered their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, Citigroup reduced their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Five 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. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and an average target price of $23.06.
Read Our Latest Research Report on RKLB
Rocket Lab USA Stock Up 1.1 %
Shares of NASDAQ RKLB traded up $0.20 during midday trading on Friday, reaching $18.62. 25,420,347 shares of the company's stock were exchanged, compared to its average volume of 14,687,231. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The business's fifty day moving average price is $23.82 and its two-hundred day moving average price is $19.47. The stock has a market capitalization of $8.45 billion, a PE ratio of -50.32 and a beta of 2.06.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.
Insider Transactions at Rocket Lab USA
In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the transaction, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.70% of the company's stock.
About Rocket Lab USA
(
Free Report)
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.
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