Darden Wealth Group Inc Invests $1.27 Million in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Darden Wealth Group Inc acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,750 shares of the rocket manufacturer’s stock, valued at approximately $1,267,000. Rocket Lab USA accounts for approximately 0.9% of Darden Wealth Group Inc’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Rocket Lab USA by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after acquiring an additional 668,093 shares during the period. Geode Capital Management LLC lifted its position in shares of Rocket Lab USA by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after acquiring an additional 32,658 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Rocket Lab USA by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock worth $73,919,000 after acquiring an additional 23,855 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Rocket Lab USA by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,121,024 shares of the rocket manufacturer’s stock worth $28,552,000 after purchasing an additional 28,618 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rocket Lab USA in the fourth quarter valued at $21,896,000. Institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Citigroup decreased their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. KeyCorp decreased their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $16.37 on Friday. The stock has a fifty day simple moving average of $22.57 and a two-hundred day simple moving average of $20.03. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of -44.24 and a beta of 2.08. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

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

Insider Buying and Selling

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 13.70% of the stock is currently owned by insiders.

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.