RWA Wealth Partners LLC Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

RWA Wealth Partners LLC bought a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,686 shares of the rocket manufacturer’s stock, valued at approximately $400,000.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings 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 buying an additional 898,223 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Rocket Lab USA in the fourth quarter valued at about $21,896,000. Vanguard Group Inc. increased its position in Rocket Lab USA by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after purchasing an additional 668,093 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Rocket Lab USA during the 4th quarter worth about $16,044,000. Finally, Charles Schwab Investment Management Inc. lifted its position 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 valued at $28,006,000 after purchasing an additional 532,207 shares during the period. 71.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction 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. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RKLB. 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 research report on Friday, February 28th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Citigroup decreased their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company cut their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $18.15 on Wednesday. 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 company’s 50 day moving average price is $23.33 and its two-hundred day moving average price is $19.89. The company has a market capitalization of $8.23 billion, a P/E ratio of -49.05 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company 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%. On average, analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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.