Raymond James Financial Inc. Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Raymond James Financial Inc. acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 225,666 shares of the rocket manufacturer’s stock, valued at approximately $5,748,000.

Several other hedge funds have also recently added to or reduced their stakes in RKLB. Promus Capital LLC acquired a new position in Rocket Lab USA during the 4th quarter valued at $885,000. Arizona State Retirement System raised its position in shares of Rocket Lab USA by 10.1% during the fourth quarter. Arizona State Retirement System now owns 93,724 shares of the rocket manufacturer’s stock valued at $2,387,000 after buying an additional 8,589 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at about $1,564,000. Victory Capital Management Inc. lifted its stake in shares of Rocket Lab USA by 11.9% in the fourth quarter. Victory Capital Management Inc. now owns 45,403 shares of the rocket manufacturer’s stock valued at $1,156,000 after buying an additional 4,816 shares during the period. Finally, Torray Investment Partners LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth about $229,000. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Up 6.7 %

Shares of RKLB stock opened at $20.21 on Tuesday. The company has a market capitalization of $9.17 billion, a P/E ratio of -54.62 and a beta of 2.06. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $24.13 and a 200 day moving average price of $19.37.

Rocket Lab USA (NASDAQ:RKLB) last posted its 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). The firm had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on RKLB. The Goldman Sachs Group upped their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Stifel Nicolaus upped their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. KeyCorp decreased their price target on shares of 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. Wells Fargo & Company dropped their price objective on shares of 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, Morgan Stanley lifted their target price on shares of 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. Five 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.06.

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.