Proficio Capital Partners LLC Buys New Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Proficio Capital Partners LLC bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 61,408 shares of the rocket manufacturer’s stock, valued at approximately $1,564,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its holdings in Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after purchasing an additional 334 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Rocket Lab USA by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after purchasing an additional 746 shares in the last quarter. IFP Advisors Inc increased its holdings in Rocket Lab USA by 12.3% during the 4th quarter. IFP Advisors Inc now owns 6,885 shares of the rocket manufacturer’s stock worth $175,000 after purchasing an additional 753 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA during the 4th quarter worth approximately $25,000. Finally, New Millennium Group LLC increased its holdings in Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after purchasing an additional 1,050 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on RKLB shares. Citigroup decreased 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 research note on Monday, February 24th. The Goldman Sachs Group boosted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Stifel Nicolaus boosted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, KeyCorp cut their target price on 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. Five 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.06.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is owned by corporate insiders.

Rocket Lab USA Trading Down 1.3 %

NASDAQ:RKLB opened at $18.53 on Friday. 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, Inc. has a 12 month low of $3.47 and a 12 month high of $33.34. The company has a market cap of $8.40 billion, a PE ratio of -50.08 and a beta of 2.06. The company has a 50 day simple moving average of $24.36 and a two-hundred day simple moving average of $19.01.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly 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). The business had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share 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.