1,139,363 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Bought by Ieq Capital LLC

Ieq Capital LLC bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,139,363 shares of the rocket manufacturer’s stock, valued at approximately $5,469,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RKLB. Victory Capital Management Inc. grew its position in shares of Rocket Lab USA by 30.9% during the 4th quarter. Victory Capital Management Inc. now owns 39,631 shares of the rocket manufacturer’s stock valued at $219,000 after buying an additional 9,357 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Lab USA by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the rocket manufacturer’s stock valued at $11,513,000 after purchasing an additional 24,232 shares during the last quarter. Brown Advisory Inc. bought a new position in shares of Rocket Lab USA during the fourth quarter valued at approximately $61,000. Chesapeake Capital Corp IL acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $262,000. Finally, Scotia Capital Inc. lifted its holdings in shares of Rocket Lab USA by 146.4% in the 4th quarter. Scotia Capital Inc. now owns 40,390 shares of the rocket manufacturer’s stock worth $223,000 after purchasing an additional 24,000 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Stock Performance

RKLB opened at $7.47 on Friday. The business has a 50 day moving average price of $5.96 and a two-hundred day moving average price of $4.85. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -20.19 and a beta of 1.27. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $7.72.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. During the same quarter last year, the business posted ($0.10) earnings per share. The company’s quarterly revenue was up 71.2% on a year-over-year basis. Research analysts predict that Rocket Lab USA, Inc. will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on RKLB. The Goldman Sachs Group started coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective for the company. JMP Securities began coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. BTIG Research initiated coverage on shares of Rocket Lab USA in a research report on Wednesday, June 26th. They issued a “neutral” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 9th. Finally, Roth Mkm restated a “buy” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus target price of $6.86.

Insider Buying and Selling

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the transaction, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock worth $906,059 in the last ninety days. 13.70% of the stock is currently owned by corporate insiders.

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.