Ieq Capital LLC Purchases Shares of 344,510 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ieq Capital LLC acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 344,510 shares of the rocket manufacturer’s stock, valued at approximately $8,775,000. Ieq Capital LLC owned about 0.07% of Rocket Lab USA at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $40,000. New Millennium Group LLC raised its stake in shares of 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 purchasing an additional 1,050 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at approximately $58,000. Newbridge Financial Services Group Inc. bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $76,000. Finally, Principal Securities Inc. increased its holdings in Rocket Lab USA by 137.3% during the fourth quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock worth $136,000 after buying an additional 3,099 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Cantor Fitzgerald raised their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. KeyCorp upped their price objective on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Bank of America lifted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $25.26 on Friday. The business’s 50 day moving average is $27.05 and its 200-day moving average is $17.08. The firm has a market cap of $12.63 billion, a P/E ratio of -68.27 and a beta of 1.99. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares in the company, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares in the company, valued at $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,530 shares of company stock worth $2,944,700 in the last 90 days. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA 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.