Global Retirement Partners LLC Invests $58,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Global Retirement Partners LLC bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, HoldingsChannel reports. The firm bought 2,272 shares of the rocket manufacturer’s stock, valued at approximately $58,000.

Other hedge funds have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA in the 4th quarter worth approximately $40,000. New Millennium Group LLC increased its position in 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 valued at $52,000 after purchasing an additional 1,050 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Rocket Lab USA in the 4th quarter worth about $76,000. Allworth Financial LP grew its position in shares of Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after buying an additional 8,992 shares during the period. Finally, Arete Wealth Advisors LLC bought a new position in Rocket Lab USA in the 3rd quarter worth about $106,000. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RKLB shares. Bank of America upped their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus increased their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Citigroup lowered their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday. Finally, Wells Fargo & Company raised their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.61.

Rocket Lab USA Price Performance

RKLB stock opened at $20.44 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm has a market capitalization of $10.22 billion, a P/E ratio of -55.25 and a beta of 1.99. The business’s 50-day moving average is $26.71 and its two-hundred day moving average is $17.82. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the transaction, the director now owns 132,294 shares in the company, valued at $3,126,107.22. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. 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.