Victory Capital Management Inc. Grows Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Victory Capital Management Inc. grew its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,403 shares of the rocket manufacturer’s stock after acquiring an additional 4,816 shares during the period. Victory Capital Management Inc.’s holdings in Rocket Lab USA were worth $1,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Torray Investment Partners LLC purchased a new position in shares of Rocket Lab USA during the 4th quarter valued at approximately $229,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Lab USA by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after buying an additional 23,855 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Rocket Lab USA during the 4th quarter valued at approximately $539,000. Mission Wealth Management LP purchased a new position in shares of Rocket Lab USA during the 4th quarter valued at approximately $3,606,000. Finally, Woodley Farra Manion Portfolio Management Inc. boosted its stake in shares of Rocket Lab USA by 15.0% during the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 76,600 shares of the rocket manufacturer’s stock valued at $1,951,000 after buying an additional 10,000 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RKLB shares. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Stifel Nicolaus upped their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley upped their price target on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. KeyCorp dropped their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Citigroup dropped their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $18.78 on Thursday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. 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 business’s fifty day moving average price is $24.54 and its two-hundred day moving average price is $19.01. The firm has a market capitalization of $8.52 billion, a PE ratio of -50.76 and a beta of 2.06.

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

Insiders Place Their Bets

In other news, insider Frank Klein sold 44,553 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.70% of the stock is 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.