Ashton Thomas Private Wealth LLC Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ashton Thomas Private Wealth LLC acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,245 shares of the rocket manufacturer’s stock, valued at approximately $516,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Lab USA by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after acquiring an additional 23,855 shares during the period. Bank of New York Mellon Corp boosted its position in shares of 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 valued at $28,552,000 after acquiring an additional 28,618 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of Rocket Lab USA in the third quarter valued at about $8,930,000. Finally, Citigroup Inc. boosted its position in shares of Rocket Lab USA by 46.8% in the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after acquiring an additional 220,432 shares during the period. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Stock Down 8.9 %

RKLB stock opened at $17.12 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a market cap of $8.56 billion, a PE ratio of -46.27 and a beta of 2.06. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. The business has a 50-day simple moving average of $25.74 and a 200 day simple moving average of $18.51.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RKLB shares. 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 report on Monday, March 3rd. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report 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 report on Friday, February 28th. 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 report on Wednesday, January 8th. Finally, The Goldman Sachs Group boosted their price target on 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 equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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.