Raymond James Financial Inc. Invests $5.75 Million in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Raymond James Financial Inc. bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 225,666 shares of the rocket manufacturer's stock, valued at approximately $5,748,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Rocket Lab USA during the 4th quarter valued at approximately $40,000. New Millennium Group LLC lifted its position in Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock worth $52,000 after acquiring an additional 1,050 shares during the period. Finally, AlphaQuest LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RKLB. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Morgan Stanley raised their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Stifel Nicolaus boosted their price target 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. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, KeyCorp dropped their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Five research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.72.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the business's stock in a transaction on 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 of the company's stock, valued at $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 13.70% of the company's stock.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $21.88 on Friday. The business has a 50 day moving average price of $19.68 and a 200 day moving average price of $21.06. The company has a market capitalization of $9.92 billion, a P/E ratio of -59.13 and a beta of 2.08. Rocket Lab USA, Inc. has a 1-year low of $3.56 and a 1-year high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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). The firm had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.

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