131,562 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Bought by QRG Capital Management Inc.

QRG Capital Management Inc. purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 131,562 shares of the rocket manufacturer’s stock, valued at approximately $3,351,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA during the fourth quarter worth about $40,000. New Millennium Group LLC increased its position in 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 buying an additional 1,050 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth $58,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $76,000. Finally, Principal Securities Inc. grew its stake in shares of Rocket Lab USA by 137.3% in the fourth quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock valued at $136,000 after acquiring an additional 3,099 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RKLB shares. Wells Fargo & Company lifted their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Citigroup cut their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday. Bank of America raised their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note 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 report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.61.

Insider Activity at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now owns 534,675 shares in the company, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly 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 position. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.

Rocket Lab USA Trading Up 3.1 %

Shares of RKLB opened at $20.44 on Friday. 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, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of -55.25 and a beta of 1.99. The business’s fifty day moving average is $26.71 and its 200-day moving average is $17.91.

Rocket Lab USA (NASDAQ:RKLB) last released 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). The business had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.