New York State Common Retirement Fund Grows Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

New York State Common Retirement Fund raised its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,888 shares of the rocket manufacturer’s stock after buying an additional 7,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Rocket Lab USA were worth $2,748,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mizuho Markets Americas LLC bought a new position in shares of Rocket Lab USA during the third quarter valued at $8,930,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 532,207 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Rocket Lab USA during the third quarter valued at $2,651,000. Finally, Citigroup Inc. lifted its holdings 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 purchasing an additional 220,432 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, the director now owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Cantor Fitzgerald upped their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Citigroup reduced their price objective 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, Bank of America upped their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Five investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.61.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $20.44 on Friday. 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 business has a 50-day simple moving average of $26.71 and a two-hundred day simple moving average of $17.91. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of -55.25 and a beta of 1.99. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) 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 business had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. On average, analysts expect that Rocket Lab USA, Inc. will post -0.38 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.