Raymond James Financial Inc. Acquires New Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Raymond James Financial Inc. bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 225,666 shares of the rocket manufacturer’s stock, valued at approximately $5,748,000.

Several other large investors have also recently bought and sold shares of RKLB. Geode Capital Management LLC boosted its holdings in shares of Rocket Lab USA by 12.2% in 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 acquiring an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rocket Lab USA by 22.7% during the 3rd 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. Ieq Capital LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter valued at $8,775,000. Quadrature Capital Ltd acquired a new position in shares of Rocket Lab USA during the 3rd quarter valued at $2,651,000. Finally, Citigroup Inc. raised its stake in shares of Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was 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 of the company’s stock, valued at $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Up 6.7 %

Rocket Lab USA stock opened at $20.21 on Tuesday. 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 stock has a market cap of $9.17 billion, a P/E ratio of -54.62 and a beta of 2.06. The company’s fifty day simple moving average is $24.13 and its 200-day simple moving average is $19.37.

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). The firm had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. As a group, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RKLB. Citigroup lowered their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company dropped their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley upped their price target on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.06.

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.