IFP Advisors Inc Purchases 753 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

IFP Advisors Inc grew its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,885 shares of the rocket manufacturer’s stock after acquiring an additional 753 shares during the quarter. IFP Advisors Inc’s holdings in Rocket Lab USA were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after buying an additional 532,207 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Rocket Lab USA during the third quarter valued at approximately $8,930,000. Citigroup Inc. boosted its position in shares of Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after buying an additional 220,432 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Rocket Lab USA by 2.2% during the fourth quarter. Rhumbline Advisers now owns 479,129 shares of the rocket manufacturer’s stock valued at $12,203,000 after buying an additional 10,219 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Down 8.9 %

Shares of NASDAQ RKLB opened at $18.66 on Tuesday. Rocket Lab USA, Inc. has a one year low of $3.47 and a one 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 $26.57 and its 200-day moving average price is $18.09. The stock has a market capitalization of $9.33 billion, a PE ratio of -50.43 and a beta of 1.99.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) 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 firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. On average, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Activity

In related news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the sale, the director now directly owns 132,294 shares in the company, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Wells Fargo & Company cut their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday. Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday. Bank of America boosted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, KeyCorp cut their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

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.