Catalyst Funds Management Pty Ltd Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Catalyst Funds Management Pty Ltd bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 19,700 shares of the rocket manufacturer’s stock, valued at approximately $502,000.

Other hedge funds have also bought and sold shares of the company. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Rocket Lab USA during the 4th quarter valued at about $40,000. New Millennium Group LLC increased its holdings in shares of Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares during the period. AlphaQuest LLC purchased a new position in shares of Rocket Lab USA in the fourth quarter worth about $52,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Rocket Lab USA by 1,565.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after purchasing an additional 1,894 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $18.81 on Friday. 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 has a fifty day moving average of $25.10 and a 200 day moving average of $18.75. The firm has a market cap of $8.53 billion, a PE ratio of -50.84 and a beta of 2.06. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results 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 analysts’ expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. As a group, research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised 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 report on Wednesday, January 8th. 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 report on Monday, March 10th. Citigroup lowered their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company reduced their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, KeyCorp lowered their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Five equities 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

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.