Charles Schwab Investment Management Inc. Boosts Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,902,212 shares of the rocket manufacturer’s stock after acquiring an additional 23,855 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.58% of Rocket Lab USA worth $73,919,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA during the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA in the 4th quarter worth approximately $40,000. Smartleaf Asset Management LLC increased its stake in Rocket Lab USA by 1,565.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after acquiring an additional 1,894 shares during the last quarter. New Millennium Group LLC increased its stake in Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after acquiring an additional 1,050 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in Rocket Lab USA in the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

RKLB has been the topic of several analyst reports. Bank of America boosted their target price 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. KeyCorp dropped their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Citigroup dropped their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Stifel Nicolaus boosted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Price Performance

Shares of RKLB stock opened at $17.12 on Tuesday. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of -46.27 and a beta of 2.06. The stock has a fifty day simple moving average of $25.74 and a two-hundred day simple moving average of $18.51. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

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 firm had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. On average, analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Transactions at Rocket Lab USA

In other 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 value of $236,300.00. Following the completion of the transaction, the director now directly owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 13.70% of the company’s stock.

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.