Ashton Thomas Private Wealth LLC Invests $516,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,245 shares of the rocket manufacturer’s stock, valued at approximately $516,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after purchasing an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Lab USA by 22.7% during the third 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Rocket Lab USA by 12.2% during the third 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 last quarter. FORA Capital LLC bought a new stake in shares of Rocket Lab USA during the third quarter worth about $449,000. Finally, National Bank of Canada FI grew its holdings 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 purchasing an additional 30,178 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Price Performance

Rocket Lab USA stock opened at $17.12 on Tuesday. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of -46.27 and a beta of 2.06. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The stock’s 50 day moving average price is $25.74 and its two-hundred day moving average price is $18.51. 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 analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. On average, equities analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Nina Armagno sold 10,000 shares of the company’s 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 directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

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