Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Purchased by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. increased its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 15.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 76,600 shares of the rocket manufacturer’s stock after acquiring an additional 10,000 shares during the period. Woodley Farra Manion Portfolio Management Inc.’s holdings in Rocket Lab USA were worth $1,951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RKLB. Chicago Partners Investment Group LLC lifted its holdings in shares of Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after purchasing an additional 334 shares during the last quarter. CIBC Asset Management Inc increased its position in Rocket Lab USA by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after buying an additional 746 shares in the last quarter. IFP Advisors Inc raised its position in shares of Rocket Lab USA by 12.3% in the fourth quarter. IFP Advisors Inc now owns 6,885 shares of the rocket manufacturer’s stock valued at $175,000 after buying an additional 753 shares during the last quarter. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the 4th quarter worth approximately $25,000. Finally, New Millennium Group LLC lifted its holdings in shares of Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after acquiring an additional 1,050 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Price Performance

NASDAQ:RKLB opened at $20.44 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company has a market cap of $10.22 billion, a P/E ratio of -55.25 and a beta of 1.99. The firm’s fifty day moving average price is $26.71 and its two-hundred day moving average price is $18.00. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Equities analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RKLB shares. Citigroup dropped their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday. Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. 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. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company raised their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Five 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 currently has a consensus rating of “Moderate Buy” and an average price target of $21.61.

Insiders Place Their Bets

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

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.