Ieq Capital LLC Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ieq Capital LLC purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,139,363 shares of the rocket manufacturer’s stock, valued at approximately $5,469,000. Ieq Capital LLC owned approximately 0.23% of Rocket Lab USA as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RKLB. Wellington Shields & Co. LLC raised its stake in Rocket Lab USA by 3.8% in the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the period. 180 Wealth Advisors LLC boosted its holdings in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after purchasing an additional 2,807 shares during the last quarter. Verus Capital Partners LLC grew its position in shares of Rocket Lab USA by 11.9% in the second quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after purchasing an additional 3,525 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Trading Up 4.2 %

NASDAQ RKLB opened at $7.47 on Friday. The stock has a market cap of $3.68 billion, a P/E ratio of -20.19 and a beta of 1.27. The company’s fifty day simple moving average is $5.96 and its 200-day simple moving average is $4.85. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $7.72.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm’s revenue was up 71.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on RKLB. JMP Securities began coverage on shares of Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating on the stock. Citigroup lifted their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective for the company. BTIG Research initiated coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley lowered Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.86.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the transaction, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares in the company, valued at $292,235.70. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock worth $906,059 in the last 90 days. 13.70% of the stock is owned by corporate insiders.

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.