Jones Financial Companies Lllp Raises Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Jones Financial Companies Lllp grew its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 450.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,238 shares of the rocket manufacturer’s stock after purchasing an additional 8,378 shares during the quarter. Jones Financial Companies Lllp’s holdings in Rocket Lab USA were worth $261,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA in the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA in the 4th quarter valued at approximately $40,000. New Millennium Group LLC boosted its stake in shares of Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares during the period. Smartleaf Asset Management LLC lifted its stake in Rocket Lab USA by 1,565.3% in the fourth 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. Finally, Global Retirement Partners LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at about $58,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on RKLB. 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 report on Thursday, November 14th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald increased their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Morgan Stanley increased their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday. Five 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Price Performance

Shares of RKLB opened at $18.43 on Thursday. The stock has a fifty day moving average price of $25.45 and a 200 day moving average price of $18.58. The company has a market cap of $8.36 billion, a P/E ratio of -49.81 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. On average, research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

About Rocket Lab USA

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.