Meridian Wealth Management LLC Purchases Shares of 21,161 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Meridian Wealth Management LLC purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 21,161 shares of the rocket manufacturer’s stock, valued at approximately $539,000.

A number of other large investors have also made changes to their positions in RKLB. Van ECK Associates Corp grew its stake in shares of Rocket Lab USA by 33.1% during the 3rd quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer’s stock valued at $1,275,000 after purchasing an additional 32,618 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Rocket Lab USA during the 3rd quarter valued at about $132,000. GSA Capital Partners LLP purchased a new position in shares of Rocket Lab USA during the 3rd quarter valued at about $139,000. Verus Capital Partners LLC lifted its position in shares of Rocket Lab USA by 42.7% during the 3rd quarter. Verus Capital Partners LLC now owns 47,310 shares of the rocket manufacturer’s stock valued at $460,000 after buying an additional 14,150 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Rocket Lab USA by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after buying an additional 1,709 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Stock Up 7.4 %

NASDAQ RKLB opened at $20.40 on Thursday. 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 12 month low of $3.47 and a 12 month high of $33.34. The stock’s 50 day moving average is $26.29 and its 200 day moving average is $18.19. The stock has a market cap of $10.20 billion, a PE ratio of -55.13 and a beta of 1.99.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data 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 firm had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday. KeyCorp lowered their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Bank of America lifted their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald lifted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Insider Activity

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares in the company, valued at approximately $3,126,107.22. This represents a 7.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.70% of the company’s stock.

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.