131,562 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Bought by QRG Capital Management Inc.

QRG Capital Management Inc. purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 131,562 shares of the rocket manufacturer’s stock, valued at approximately $3,351,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Citigroup Inc. lifted its stake in shares of Rocket Lab USA by 46.8% in the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after acquiring an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the period. Geode Capital Management LLC lifted its position in shares of Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. FORA Capital LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at $449,000. Finally, National Bank of Canada FI increased its position in shares of Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after buying an additional 30,178 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Up 3.1 %

Shares of Rocket Lab USA stock opened at $20.44 on Friday. The stock has a market capitalization of $10.22 billion, a PE ratio of -55.25 and a beta of 1.99. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. The stock has a 50 day moving average price of $26.71 and a two-hundred day moving average price of $17.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

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

Insider Activity

In related news, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now owns 132,294 shares of the company’s stock, valued at $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

RKLB has been the topic of several recent analyst reports. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Bank of America boosted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, KeyCorp cut their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.61.

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.