Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Acquired by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 48.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,358 shares of the rocket manufacturer’s stock after acquiring an additional 9,539 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Rocket Lab USA were worth $286,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of RKLB. Vanguard Group Inc. lifted its stake in shares of Rocket Lab USA by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer’s stock worth $146,831,000 after acquiring an additional 451,370 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in Rocket Lab USA during the first quarter valued at approximately $145,000. 180 Wealth Advisors LLC raised its stake in Rocket Lab USA by 35.3% during the first quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer’s stock valued at $154,000 after buying an additional 9,747 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Rocket Lab USA by 196.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 65,014 shares of the rocket manufacturer’s stock valued at $267,000 after buying an additional 43,095 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Rocket Lab USA by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock valued at $6,950,000 after buying an additional 229,512 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insider Buying and Selling

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction on 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 directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock valued at $906,059 in the last three months. 13.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RKLB. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. JMP Securities began coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Rocket Lab USA in a research note on Monday, September 30th. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, BTIG Research initiated coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.75.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $10.68 on Friday. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $11.19. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of -30.51 and a beta of 1.32. The business has a 50 day simple moving average of $7.58 and a 200 day simple moving average of $5.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $105.47 million. During the same period in the prior year, the company posted ($0.10) EPS. The business’s revenue for the quarter was up 71.2% compared to the same quarter last year. On average, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.39 EPS for the current 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.