Oppenheimer & Co. Inc. Makes New $1.17 Million Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Oppenheimer & Co. Inc. bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,860 shares of the rocket manufacturer’s stock, valued at approximately $1,168,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in Rocket Lab USA during the fourth quarter valued at approximately $40,000. New Millennium Group LLC grew its position in Rocket Lab USA by 105.0% during 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 in the last quarter. Global Retirement Partners LLC purchased a new position in Rocket Lab USA during the fourth quarter valued at approximately $58,000. Newbridge Financial Services Group Inc. acquired a new stake in Rocket Lab USA in the fourth quarter valued at approximately $76,000. Finally, Arete Wealth Advisors LLC acquired a new stake in Rocket Lab USA in the third quarter valued at approximately $106,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RKLB. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company reduced their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday. Citigroup reduced 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 note on Friday, February 28th. Finally, The Goldman Sachs Group lifted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. 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 company. According to data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock opened at $19.00 on Wednesday. The firm has a fifty day simple moving average of $26.42 and a 200-day simple moving average of $18.17. 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, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of -51.35 and a beta of 1.99.

Rocket Lab USA (NASDAQ:RKLB) last announced its 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). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. On average, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were 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 approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.70% of the stock is currently owned by 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.