Fox Run Management L.L.C. Invests $383,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Fox Run Management L.L.C. purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,052 shares of the rocket manufacturer’s stock, valued at approximately $383,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RKLB. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the fourth quarter valued at approximately $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA in the 4th quarter worth about $40,000. New Millennium Group LLC boosted its stake 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 valued at $52,000 after purchasing an additional 1,050 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of Rocket Lab USA during the fourth quarter valued at about $52,000. Institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RKLB. Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company reduced their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. KeyCorp lowered their price objective on 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 upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

Insider Buying and Selling

In other news, insider Frank Klein sold 44,553 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now owns 1,419,479 shares of the company’s stock, valued at $25,806,128.22. This trade represents a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.70% of the stock is owned by corporate insiders.

Rocket Lab USA Trading Down 4.1 %

Shares of NASDAQ RKLB opened at $19.44 on Thursday. The company has a market cap of $8.82 billion, a PE ratio of -52.54 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm’s 50 day moving average price is $23.94 and its 200-day moving average price is $19.48. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34.

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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. On average, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.